Award winning micro co sets up Tk 100m spice processing plant
Sunday, 3 January 2010
FE Report
Affix Consumer Products Limited, an award winning micro enterprise, has set up a Tk100 million food processing plant to grab a share of the country's fast growing packaged spices market.
Managing director of the company Ezaz Uddin told the FE the company's plant at Bhaluka, Mymensingh would go into full-fledged production next month after a weeklong trial at the end of this month.
"Our plant has a capacity to process and grind 500 tonnes of spices. Initially we shall market packaged spices in the domestic market. We have also a plan to export products," he said.
Study commissioned by Affix has shown that the country's spices market is now worth around Tk30 billion per annum and has been growing at 11 per cent a year with major growth occurring in the urban and semi urban areas.
Mr. Ezaz said although 18 companies now sell branded spices in every major city and town across the country, there is still a lot of room for growth as packaged items make up only around 20 per cent of the market.
Affix also has a target to expand production facilities in 2011 and export its products to ethnic Bangladeshi markets in the Middle East, the United Kingdom and the United States.
"We see huge growth prospect both at home and abroad in the coming years," he said, adding initially the Bhaluka plant would process turmeric, chili, cumin and coriander.
Affix began as a micro enterprise in 2008 and was awarded as the best emerging enterprise by the SME Foundation last month for graduating into a medium-sized company.
Mr. Ezaz said his group would also set up a noodle processing plant and a mustard oil refinery near the Bhaluka factory amid soaring demand for these items in the local market.
Affix Consumer Products Limited, an award winning micro enterprise, has set up a Tk100 million food processing plant to grab a share of the country's fast growing packaged spices market.
Managing director of the company Ezaz Uddin told the FE the company's plant at Bhaluka, Mymensingh would go into full-fledged production next month after a weeklong trial at the end of this month.
"Our plant has a capacity to process and grind 500 tonnes of spices. Initially we shall market packaged spices in the domestic market. We have also a plan to export products," he said.
Study commissioned by Affix has shown that the country's spices market is now worth around Tk30 billion per annum and has been growing at 11 per cent a year with major growth occurring in the urban and semi urban areas.
Mr. Ezaz said although 18 companies now sell branded spices in every major city and town across the country, there is still a lot of room for growth as packaged items make up only around 20 per cent of the market.
Affix also has a target to expand production facilities in 2011 and export its products to ethnic Bangladeshi markets in the Middle East, the United Kingdom and the United States.
"We see huge growth prospect both at home and abroad in the coming years," he said, adding initially the Bhaluka plant would process turmeric, chili, cumin and coriander.
Affix began as a micro enterprise in 2008 and was awarded as the best emerging enterprise by the SME Foundation last month for graduating into a medium-sized company.
Mr. Ezaz said his group would also set up a noodle processing plant and a mustard oil refinery near the Bhaluka factory amid soaring demand for these items in the local market.