Two agro-based cos feel lure of spice market
Saturday, 6 June 2009
Jasim Uddin Haroon
Two leading local agro-based companies are making a foray into the fast expanding spices market.
Besides, the country's existing six to seven such companies are enhancing the capacity of their plants in view of growing demand for spices.
Aftab group, a Dhaka-based company, has taken all-out preparations to launch its spice products in the markets shortly.
Nurjahan group, a Chittagong-based company, has also completed preparations to market various spices in the local market within the next few months.
"We will supply spices from plant at Gazipur before the Ramadan," said Tajol Islam, general manager of Aftab Food limited, a concern of Aftab Group.
The Aftab Food, which is mainly involved in dairy and poultry farming, has invested over Tk 250 million in its new plant, which will roll out different kinds of spices and foods.
It said it will process mainly chilli, turmeric by procuring from local farmers. "It will ensure fair prices of the local farm products," the company official said.
Aftab official sources said the company wants to produce at least 10 tonnes of spices initially with an option for future expansion.
Nurjahan Group, the Chittagong-based edible refinery company, said it has also set up a sophisticated plant in the port city to grab a share in the growing spices market. The spice market size is estimated to be over Tk 5.0 billion.
Tipu Sultan, a director of the group, said: "We have installed machineries imported form Germany to produce quality spice products."
Nurjahan group, one of the largest edible refiners in the country, said it wants to diversify its products as the consumers are showing their interest on the branded products.
Kamuruzzman, an executive director of the Pran-RFL Group, said the company is expanding its capacity of its plants under a three-year plan ending in 2011, funded by the International Finance Corporation (IFC).
Currently, there are around seven companies producing branded spices. Radhuni of Square is the market leader. BD Foods, Arco, ACI products are also producing spices.
It is estimated that around 100-120 tonnes of spices are being produced a day.
Two leading local agro-based companies are making a foray into the fast expanding spices market.
Besides, the country's existing six to seven such companies are enhancing the capacity of their plants in view of growing demand for spices.
Aftab group, a Dhaka-based company, has taken all-out preparations to launch its spice products in the markets shortly.
Nurjahan group, a Chittagong-based company, has also completed preparations to market various spices in the local market within the next few months.
"We will supply spices from plant at Gazipur before the Ramadan," said Tajol Islam, general manager of Aftab Food limited, a concern of Aftab Group.
The Aftab Food, which is mainly involved in dairy and poultry farming, has invested over Tk 250 million in its new plant, which will roll out different kinds of spices and foods.
It said it will process mainly chilli, turmeric by procuring from local farmers. "It will ensure fair prices of the local farm products," the company official said.
Aftab official sources said the company wants to produce at least 10 tonnes of spices initially with an option for future expansion.
Nurjahan Group, the Chittagong-based edible refinery company, said it has also set up a sophisticated plant in the port city to grab a share in the growing spices market. The spice market size is estimated to be over Tk 5.0 billion.
Tipu Sultan, a director of the group, said: "We have installed machineries imported form Germany to produce quality spice products."
Nurjahan group, one of the largest edible refiners in the country, said it wants to diversify its products as the consumers are showing their interest on the branded products.
Kamuruzzman, an executive director of the Pran-RFL Group, said the company is expanding its capacity of its plants under a three-year plan ending in 2011, funded by the International Finance Corporation (IFC).
Currently, there are around seven companies producing branded spices. Radhuni of Square is the market leader. BD Foods, Arco, ACI products are also producing spices.
It is estimated that around 100-120 tonnes of spices are being produced a day.