KUALA LUMPUR: There is still a significant gap in the application and understanding of Halal standards amongst small and medium enterprises (SMEs), despite the rapid growth of the industry locally and globally.
The World Halal Forum (WHF) in a statement here Wednesday said whilst most multinational giants had realised the potential of the Halal industry and were grabbing opportunities, local SMEs still lagged far behind.
The market value of the Halal products in Malaysia last year, was estimated to be more than RM30 billion.
This concern was raised by Jumaatun Azmi, the founder of the WHF, who also noted that there were many contributing factors to this shortfall, including resource and capital shortage.
“The big players have already begun reaping profits from the lucrative potential within the burgeoning global Halal market. But small, home-based entrepreneurs, have limited resources to comply with the Halal standards,” Jumaatun said.
She also raised the need for a singular, consolidated body or agency to coordinate and improve Halal governance globally.
This body or agency would address the need for an efficient panel of industry experts to standardise Halal regulations and practices to avoid confusion among customers.
In Malaysia, the standardisation for Halal products is under the national standards body, Standards Malaysia, with all matters discussed in a technical committee comprising representatives from relevant stakeholders