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Crocs eye forex

Local farm all set for maiden export

AMINUL ISLAM, Mymensingh
Four years after its inception, the country's first commercial reptile farm- The Reptiles Farm Ltd--in Mymensingh is now all set to make its first export of crocodiles.
The Bhaluka-based farm’s Managing Director Mushtaq Ahmed told The Daily Star that they are at the final stage of signing deals with a few importers in France, Germany, Italy and Japan. They are expecting to export around 100 crocodiles aged over two years by November this year.
"Export of each crocodile will fetch us Tk 75,000 and we will get a reasonable profit from the first export," Mushtaq said hoping that his farm would earn up to Tk 35 crore from crocodile exports by 2015.
Mushtaq and another entrepreneur Mesbahul Hoque started working on crocodile farming in 2002 but now it has become a viable business, said Mushtaq.
The two entrepreneurs jointly launched the farm investing Tk 5 crore with 49 percent financial support from the Equity and Entrepreneur Fund (EEF) of the government in the form of interest-free loan.
Established at Hatibeer of Bhaluka upazila in Mymensingh, The Reptiles Farm Ltd got approval from the Forest and Environment Ministry on May 5, 2004. First they imported 75 salt-water crocodiles from Malaysia on December 23, 2004 at a cost of Tk 1.25 crore. During the shipment, one crocodile had died while six more died after reaching the farm.
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The number of crocodiles was 68, including 55 females. The crocodiles were between 15 to 28 years of age then.
During the last four years the farm expanded. The farm's crocodiles produced 140 hatchlings in 2007 and 240 last year. Some 400 hatchlings are expected from some 550 eggs laid this year.
"We are waiting for the grand day when our venture bears fruit and our hard labour and investment pays off," said the farm's Chairman Mesbahul Hoque.
Crocodiles are being cultivated commercially in 40 countries of the world including China, Malaysia, Thailand, Cambodia, Indonesia, and Vietnam, farm sources said. They also said the flesh of crocodile is consumed widely in Australia, Japan, Singapore, China and America. One kilogram of crocodile meat is sold between $7-8 on the international market, the sources added.
Fashionable items made of crocodile hide have great demand. World celebrities have good eyes for such goods and a good quality bag made of crocodile hide is sold between $50,000 and $55,000, farm sources said. Celebrities even wairfor two to three years to get the delivery of such a bag.
Crocodile teeth, hide and other by-products are used for making garlands, ornaments of different kinds and small showpieces, which enjoy high demand in local and international market, said farm sources.
Charcoal made from crocodile bones is used for preparing perfume.
Officials of Reptiles Farm Ltd said the government is now formulating a Crocodile Farming Guidelines for new entrepreneurs interested in investing In this sector. Recently, a workshop was arranged by the Forest Department on this issue to accommodate views of stakeholders, farm sources said.