UNCTAD Says Bio­trade is Grow­ing Ex­po­nen­tially, Gen­er­at­ing Jobs and Pro­tect­ing Bio­di­ver­sity

Financial Nigeria Magazine - - Development -

The trade in sus­tain­able plant and an­i­mal prod­ucts – or "Bio­Trade" – is grow­ing ex­po­nen­tially, with ex­port val­ues reach­ing $4.5 bil­lion in 2015 from $40 mil­lion in 2003, ac­cord­ing to a new UNCTAD re­port pub­lished on De­cem­ber 3rd.

In­creased en­vi­ron­men­tal aware­ness and shift­ing con­sumer pref­er­ences mean this growth is set to con­tinue, gen­er­at­ing jobs and in­comes and pro­tect­ing bio­di­ver­sity too, says the re­port, en­ti­tled “Bio­Trade: Con­nect­ing Peo­ple, Planet and Mar­kets.”

The re­port high­lights that some Dzao com­mu­ni­ties in north-west Viet­nam nearly dou­bled their in­comes by pro­cess­ing and sell­ing one of their re­gion's na­tive plants, Che-day, (am­pelop­sis can­tonien­sis), to a lo­cal com­pany, Traphaco. Tra­di­tion­ally used to treat di­ges­tion-re­lated dis­eases, the plant is a key in­gre­di­ent in one of the com­pany's best-sell­ing prod­ucts for com­mon gas­tric and in­testi­nal in­flam­ma­tions. The re­port also high­lights trade in am­phib­ians for pets and ed­u­ca­tional mar­kets.

New EU reg­u­la­tion on novel food which comes into force in 2018, may fa­cil­i­tate ac­cess to the EU mar­ket for some tra­di­tional food prod­ucts which have a his­tory of safe use, cut­ting the autho­riza­tion pro­ce­dure for a novel food from about 3 years to 18 months.

UNCTAD sup­ports coun­tries to iden­tify and seize new op­por­tu­ni­ties for Bio­Trade, and to in­tro­duce and im­ple­ment the poli­cies that help this trade to grow.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.