Written on 22.10.2009 - Industry
You have these options:

BANGLADESH: Burgeoning rubber market puts BFIDC on sound footing

Bangladesh Forest Industries Development Corporation (BFIDC) has earned more than Tk 900 million over the last seven months thanks to expansion of the domestic rubber market.

The state-owned BFIDC supplies rubber to the country's growing tyre, sandal and other rubber-using industries, officials said.

"We're in a good position as far as earnings are concerned. We've earned more than Tk 900 million over the last seven months," Md Abdul Mannan Ilias, general manager of BFIDC, said on 19 Oct. 2009.

He said the BFIDC is now in a strong position due to good sales and steady growth of the domestic market.

The corporation, responsible for production and sale of rubber, has 16 large gardens covering more than 32,000 acres of land in Bandarban and Sylhet.

Bangladesh's demand for rubber is around 12,000 tonnes per annum. Local companies including Gazi Tank, Hossain Tyre, Rupsha Sandal and Meghna Group are the largest clients of the corporation.

Bangladesh government has been encouraging rubber plantation in the hilly areas since 1980. It has allotted 45,000 acres of lands to the BFIDC and 32,500 acres to private owners.

(Syed Rashid Ali, Karachi, Pakistan)