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A big boost to agro-based industry

A Bangladeshi company to consume 60,000 tonnes of potato annually to produce starch for export: 5-year deal signed with Swiss company

OUR CORRESPONDENT, Bogra
It is something unheard before. An agro-based company in Joypurhat has signed a five-year contract with a Switzerland company to sell all its products before production begins.
The Flamingo Agro Techno Ltd, a fully Bangladeshi owned venture, will produce 'native starch' from potato for export, opening great prospects for the agri-product and signaling good days for farmers.
The export potential is virtually unlimited as some Japanese and Korean companies have also expressed their willingness to import the starch, its Managing Director AK Siddique told this correspondent.
The starch will be used to produce a host of food items including noodles, which have high demand in developed countries. It will also be used in medicine and paper plants.
The plant, set up at Tilokpur in Joypurhat district at a cost Tk 45 crore, will use potato as the sole raw material.
It will go for trial production on February 15 and commercial production in mid-March.
Final touches are now being given for the kick-off. This correspondent visited the plant recently. The plant is the first of its
kind in Bangladesh and more can be set up, Siddique said.
The plant will run 24 hours a day during potato harvesting season and produce 48 tonnes of starch from 220 tonnes of potato daily. The production rate could be maintained throughout the year if raw material supply can be ensured.
A Swiss company-- AVBS--will purchase all the products for five years.
The export rate will be 600 to 700 US dollars per tonne. The price will be re-fixed occasionally according to international market price, which hovers above 6000 dollars, Siddique said.
As of present estimate, it will utilise 60,000 tonnes of potato annually.
The capacity can be increased if raw material supply can be ensured throughout the year, Siddique said.
Chief Co-ordinator of the company, Hatem Ali, thinks at
least 6,000 potato farmers and small traders will be able to do business with the company.
If expanded in future, a large number of potato farmers in Joupurhat and Naoga districts will immensely benefit from the plant. This will open great prospects for potato in the country and farmers will bet better prices, he said.
The plant is being installed by a Swiss company--Hovex. Project Engineer BV Wayne Hird from Newzealand said the starch to be produced will be of international standard and have good export market because it will be cheaper than those produced in developed countries.
The machinery and equipment are "most modern and sophisticated" and provisions have been kept to expand the plant in future if raw material supply can be ensured, he said.
To this, Siddique said, an additional investment of about Tk 20 crore will be needed for expansion of the plant and store potato for use in non-harvesting season. Siddique has a also cold storage.
The plant will employ about 150 people including 30 engineers and 15 officials.