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Management - January 31, 2023

Agro products export opens new windows

Ships now be able to go directly to Middle East

Ibrahim Khalil Jewel: Bangladesh’s exports of agricultural goods brought over $1 billion in FY22. According to Export Promotion Bureau (EPB) figures, agricultural products and processed foods brought $1.16 billion in foreign exchange in FY22, a 13.04% increase from the previous year.
The Agriculture Minister Dr. Md. AbdurRazzaqyestrday said that the ship will now be able to go directly to the Middle East with the agricultural products of Bangladesh without going around Singapore. The Minister told reporters this information at the beginning of the meeting on the progress of export of agricultural products and potatoes at the Secretariat.
He said, ‘I went to Dubai. An initiative was taken earlier from the Ministry of Commerce. We will be able to send vegetables and fruits directly to the Middle East.
The minister said, “We have reached an agreement with Dubai Port recently. If we can go directly instead of Singapore, our ship will be able to reach Dubai in four-five days with vegetables.
AbdurRazzak said, “Our competitors in exporting agricultural products to the Middle East are Pakistan, India and Turkey.” India exports potatoes. Cargo ships from these countries can go directly to Middle East ports including Dubai. But our ship has to go through Singapore.
He said, ‘In the 2018 elections, we promised the nation that we will make the country self-sufficient in food. In real sense now people don’t go without food. You can eat rice at least twice a day. We have reached that goal. Now our aim is to provide safe nutritious food to people. In other words, we will emphasize on the various aspects of food safety and we want to implement it completely.
Claiming that we have achieved a lot in terms of food security, the agriculture minister said, “In Char and Haor areas, the areas we used to call, are underdeveloped in agriculture. Their environment is also hostile. But the people of that area can eat twice. Now the challenge before us is to provide nutritious food.
He said, “That’s why we are moving ahead with three things in front of us. We will modernize, mechanize and commercialize agriculture to make it profitable. For this, both the local market and the international market should be emphasized. If you want to go to the international market, you have to ensure safe food. Food quality must be maintained. We are working towards that. Although we could not implement many programs for two to two and a half years due to the corona epidemic.
AbdurRazzak said, farmers do not always get enough price by selling in the local market. Although the production of vegetables, eggs and fish is high, the farmers cannot sell it. For this, the international market should be targeted.
“We have a packing house in Shyampur,” said the agriculture minister, saying that the quality must be increased to export food to the international market. But the location is not good. It is being modernized. Prime Minister Sheikh Hasina has given two acres of land to build another packing house in Purbachal. There will also be a laboratory. Its overall plan is over. It will be gone soon. I hope to be able to start work soon.
In the most recent fiscal year, the nation’s total merchandise exports were $52.08 billion, representing a 34.38% increase year over year.
In FY21, Bangladeshi agricultural exports exceeded $1 billion for the first time in the nation’s 50-year history.According to EPD data, agricultural exporters sent goods worth $1.02 billion during that fiscal year.
According to EPD data, agricultural exporters sent goods worth $1.02 billion during that fiscal year.
According to analysts, the entry of agricultural items into the billion-dollar club has given rise to fresh optimism for the nation’s much needed diversification of its export base away from an overreliance on ready-made clothing.
For more than three decades, Bangladesh’s top export industry has been the garment industry, which accounts for around 80% of all export revenues.
The fact that the nation’s businesspeople are attempting to diversify their exportable goods in foreign markets, reducing dependence on the country’s one major export, RMG, is excellent news, according to observers.
They added that over the past several years, exports of light engineering, jute and jute products, handicrafts, leather and leather products, some specialty textiles, ceramic goods, glass and glassware, and light engineering have all performed well.
The EPB reports that a number of agricultural products did well on the export market last year, including edible vegetables and specific root and tuber products ($99.91 million), coffee, tea, meat, and spices ($49.54 million), ginger, saffron, turmeric (curcuma), and other spices ($39.66 million), sugar confectionery ($26.93 million), malt extract, food preparations of flour ($67.23 million), and fruit and vegetable juices ($58.20 million).
In addition, the export of tobacco and tobacco products, which brought in $107.22 million in the previous fiscal year, also increased.
The largest exporter of products derived from ago processing, Pran-RFL Group, has already declared that by 2025, it will have doubled its export revenue to $1 billion.
A $2 billion sales benchmark is another goal the company has set for itself by 2030, depending on the variety of products and markets it serves.

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