Agro-based Industry in Bangladesh

Agro-based Industry in Bangladesh is  one of The Most Developed Industries in the country and the most popular businesses in present days. Fruits and vegetable production has increased significantly in recent years; Privet & public entrepreneurs and NGOs have been arranging latest agro-tech training in developing skilled manpower for agro-based industry. Maine agro products are Fresh Fruits & Vegetables, cooked/Semi Cooked Food items, Canned Juice, Dairy and Poultry, Livestock and Fisheries.

In recent days young & educated entrepreneurs are involving in Agro-based Industry and using modern technologies and machinery for producing the best Crops, Fruits & Vegetables into the fertile land of our country. There has a tropical climate, a lot of fresh water and numerous rivers of sufficient water supply and fertile soil for producing three to four crops yield in a year. Six season of climatic position has possibility to cultivate crops round the year in Bangladesh that’s why whole year is continuing of agricultural works for the agro-based industry in the land.

A large number of rural labors are busy or agricultural works for producing crops & grains, vegetables, fruits such as rice, white, potato and so on. The land has huge opportunities of Agro-based Industry such as animal rearing, livestock, animal fattening, processed dry food, fisheries, Goat farm, poultry, commercial gardening, meat processing, agro-based food processing, frozen food and agro-based by products like cottage industry or hand-made goods.

At present Bangladesh is the fourth largest rice and seventh largest potato producing country into the world. Some positive agricultural elements available in the country such as fertile soil, cheap labour cost, adequate irrigation facilities, sunny weather, a year-round frost-free environment land, river availabilities for cheap transportation and many more for the best yields of cropping.

There farmer grows many seasonal vegetables and tropical fruits as like mango, pineapple, jackfruit, lichi, palm, tomato, arum, potato, onion sometime that’s production is excided our local demand for this reason farmer facing huge losses from the cost of production of agro-based products.  For continuing agro productivities, must be needed to set-up agro & food processing plant, agro store house and cold storage to preserve long time of different kinds of food, fruits & vegetables. Some foreign and local companies establish agro processing plant to export potato, Fresh Fruits & Vegetables and frozen shrimp to global market. Couples of foreign companies develop agro processing plant to export potato, frozen shrimp, can food and dry food to world market from Bangladesh.

Few local agro-based food manufacturing industries are trying too hard to meet local & foreign demand of vegetables, fruits and processed food including Milk Vita, Bengal, Fresh, Squire and others. Now agro-based industry is a growing business sector in the country however huge investment needed to set up modern factory. In recent days local and international restaurants want more frozen food, vegetables and agro products, however, lack of production & supply not meet the growing market that’s why there have a great opportunities to Start Restaurant Business in Bangladesh or abroad, Agro Products and Foods Business in Bangladesh, Frozen food export of Bangladesh, Imports and Exports in Bangladesh. So need to set-up new technology, machinery and development of products to expand the US, EU and Middle East market. Bangladeshi potato, shrimp and lobsters demand is very much high in Middle East, EU and Russian market. The Potato Export from Bangladesh is another lucrative business in recent days.

Enthusiastic entrepreneurs specially arranged equity investment for development of agro-based industry. This sector enjoys special loan facilities available, enjoys tax holidays, cash incentive to the exporter ranges in various sub-sector to set up an agro-based industry. Any kinds of investment in this sector will enjoy similar tax concession like available in other sectors. Impose of supplementary duty on importing goods as like mango, orange, grape, apple, dates, spice, oil, sugar and others to utilize the high quality and cost effective local resources in market.

If someone wants to start a business of Agro-based Industry, at first need a Trade License for a proprietorship business that’s issued by municipal Authority or City Corporation office in Town or City and rural area Upozila Council or union Council office. Two or more entrepreneurs can run this business; it may Partnership or Limited Company Business both businesses are needed of Company Registration at RJSC (Registrar of Joint Stock Companies and Firms). When two or more entrepreneurs want to set up any kinds of business there must be needed registration of Joint Stock Company in Bangladesh.

Two or more entrepreneurs want to establish Agro & food business in Bangladesh. Generally for opening a business, firstly start a Partnership Firm Registration or Limited Company Registration at RJSC (Registrar of Joint Stock Companies and Firms). Single owner also can open these businesses taking Proprietorship business Trade License from municipal Authority or City Corporation office in Town or City and rural area Upozila council or union parisad.

After getting Company Incorporation Certificate from RJSC then we take Company’s Trade License and collect Company’s TIN Certificate for commencing business of Agro-based Industry. If we want to open Imports and Exports Business, must collect Export Registration Certificate and Import Registration Certificate for doing these businesses. Agro-based Industry’s business needs another Certificate of Agro-based business Association Certificate from respective association. Bangladesh exports agro-based products like potato, vegetables, sea foods, shrimp and imports some essential chicken goods like spice, oil, cereals at this stage needs VAT Registration Certificate (Value Added Tax) for deducting VAT on business at source.

Now Bangladesh is the fourth largest inland water / fresh water fish producing country into the globe. A large mash land produces best class of fish to meet our local demand. There most of fish cultivating in natural way that’s productivity rate is so low, however, we produce world best quality of Hilsha, Eel, Prawn, Crab, Shrimp, Lobster and many more. Shrimp is our mail frozen foods item to export foreign country; Middle East, Japan, European (EU) and USA have large Frozen foods and Agro-based products market.

Bangladeshi farmer cultivating (Agro-fishing food) the best quality shrimp and fresh water fish such as Hilsha, Eel, Prawn, Crab, Shrimp, Lobster and many more. Shrimps, our main frozen foods item, has large consumer in Japan, European (EU) and USA market which demand increasing day by day around the world.

Shrimp is our chief frozen items of Agro-based industry; Bangladeshi shrimp and lobster demand is so much high in Middle East, EU and the US market. Our farmer cultivating (Agro-fishing food) the best quality shrimp and fresh water fish such as Hilsha, Eel, Prawn, Crab, Shrimp, Lobster and many more. Entrepreneurs of Restaurant business are interested to export of Bangladeshi agro foods, frozen foods, Shrimp, Vegetables & agro goods because of highly demandable of Indian food and Bangladeshi foods in UK, the US, Russia and EU countries daily meal.

Author: Aman123