BANGLADESH – Indian poultry giant, Venkateshwara Hatcheries Group, began its operations in Bangladesh on 26 September.
The company is looking to bring in state-of-the-art technology to the Bangladeshi poultry sector, according to Daily Star.
The US$650 million conglomerate, which claims to be the largest fully integrated poultry group in Asia, says the company plans to replicate its Indian success through revolutionising the poultry sector in Bangladesh.
In his opening speech, VH Group’s joint managing director, B. Venkatesh Rao said: “Our aim is to bring the state-of-the-art technologies of poultry farming to the doorsteps of the common rural farmers of Bangladesh.”
The three-decade-old company, which boasts an 85 per cent share of India’s poultry market, will produce broiler and layer feeds under the brand name ‘Venky’s', through Uttara Foods and Feeds Private Ltd, one of its major concerns.
The corporate giant launched its operation through a ceremony at Bangabandhu International Conference Centre in Dhaka.
The colourful event was attended by famous Indian actor, Sanjay Dutt, and Australian cricket star, Brett Lee, among many other eminent personalities.
Fisheries and Livestock Minister, Md Abdul Latif Biswas, attended the ceremony as the chief guest, while senior officials from the company were present at the event.
Speaking on the occasion, Mr Biswas came down hard on traders who are deliberately trying to manipulate the prices of poultry products in the market.
The Minister said: “Although the government has fixed the prices of major poultry products in a bid to check the price spiral, it is frustrating that some traders are defying the directive.”
While the fisheries and livestock ministry has set the maximum prices of day-old broiler and layer chick at 30 and 32 taka (BDT), respectively, some poultry dealers are selling them at prices as high as BDT90 to BDT100, he said.
Highlighting the important role of the poultry industry in the economy, the minister said the sector has created employments for around 2.5 million people while contributing to poverty alleviation nationally.
“As a whole, the livestock sector has generated indirect employment opportunities for 20 per cent of the population while creating indirect employment for around 50 per cent,” he said.
Daily Star reports the Minister adding that although poultry is a major source of nutrition, a huge gap remains between the demand and supply of poultry products in the country.