Europe's share of India's food and drink market fell to 3% in 2010 from 5% in 2005, according to report, which urges EU to establish fair trade agreement with India
January 4, 2012
– The FoodDrinkEurope 2011 report revealed that Europe’s share of the Indian food and drink market was 5% in 2005, but only 3% in 2010, FoodProductionDaily.com reported on Jan. 4.
Although the European Union (EU) increased its exports to India by 241% between 2001 and 2010, the EU’s market share shrank. Between 2006 and 2010, Europe dropped in the rankings of Indian food and drink suppliers. Previously ranked fourth, Europe now ranks sixth behind the Ukraine, Brazil and Indonesia.
However, the EU is doing better in India’s emerging processed food and drink market. The EU had 42% of India’s processed food imports, a 1.6% growth year-over-year, according to FoodDrinkEurope economic affairs manager Kinga Malinowska.
FoodDrinkEurope believes that the EU and India should establish a fair trade agreement to help solidify the EU’s position in the Indian market.
The primary source of this article is FoodProductionDaily.com, Montpellier, France, on Jan. 4, 2012.