VATIS UPDATE Article

According to data compiled by Bangladesh Agro-Processors’ Association (BAPA), a trade body of processed food exporters, locally manufactured spices, biscuits, juices and drinks are fast gaining ground abroad thanks to a sizeable population of non-resident Bangladeshis. For instance, the case of spices. In fiscal 2009-10, food processers shipped $3.93 million worth of cooking condiments. The amount swelled to $60.42 million in fiscal 2014-15.1

Similarly, shipments of biscuits rose almost six times to $20.07 million in fiscal 2014-15 from five years earlier, and that of juice and drinks about five times to $66.85 million. “This shows the rising popularity of Bangladeshi products. Our market is growing and this is expected to continue,” said Khurshid Ahmad Farhad, at BAPA. The BAPA data shows the four items accounted for about 65 percent of the total export earnings of $219.84 million in fiscal 2014-15.

There are 100 manufacturers engaging as exporters and nearly 250 firms involved in food processing, according to data from Bapa and Bangladesh Bureau of Statistics. The food processing sector in Bangladesh is a $2.2 billion industry that grew at 7.7 percent on average a year between fiscal 2004-05 and 2010-11, said a US Department of Agriculture report.