Record agro-product exports in FY ’18

M Humayun Kabir: The exports of agricultural products rose sharply in fiscal year (FY) 2017-18 due to record shipments of processed foods.
According to the latest data of the Export Promotion Bureau, traders exported products worth $674 million in FY ’18, a 22 per cent growth over that of FY ’17, reports Financial Express.
Processed foods comprised more than 72 per cent or $490 million of the total farm produce exports, making it an all-time high, showed the official figures.
Trade insiders said the trend seems to be continuing in the current fiscal year, thanks to the rising demand for the items abroad.
Over 50 companies are exporting food products like confectionaries and beverages to different Middle Eastern, South Asian, African and European countries.
According to Bangladesh Agro-Processors’ Association (BAPA), Pran, Square, Sajeeb, ACI, Partex, Globe, Bombay Sweets, Star Line Food Products, Akij Foods, BD Foods, Arku and Ahmed Foods lead the exporters.
Kamruzzaman Kamal, director (marketing) of Pran, said his company contributes more than 50 per cent to the total exports of the processed food items.
Pran products are being exporting to 141 countries across the globe, he said, adding that India is their biggest importer.
Minhaz Ahmed, managing director of Ahmed Foods, said the Middle East, Europe and North America aside, the demand for local products also rises in other Asian and African countries.
BAPA senior vice-president SM Jahangir Hossain said exporters earned $60 million only in July 2018. It was $33 million in the same period last year.
Hossain opined that the government should remove the restrictions as the local traders have developed their standardisation and testing infrastructure of global acceptance, he said.
Raw agro-products worth $181 million were exported in FY ’18 with 43 per cent of vegetables.