May 27, 2008

 

China's New Hope Group launches feed mill in Bangladesh

   
  

China-based animal feed producer, New Hope Group, started production at its newly built feed mill in Gazipur, Bangladesh early this year.

 

The plant has the capacity to become the largest in the country.

 

The New Hope Feed Mill is producing and selling poultry feed under its brand New Hope. It also intends to manufacture fish feeds.

 

At the same time, Bangladesh competitors fear the entry of such a big conglomerate into the local feed industry, saying it might drive small local feed companies out of business.

 

However agricultural analysts said it would increase competition and help farmers get quality feeds at a competitive price.

 

Moshiur Rahman, managing director, Paragon group, one of the country's biggest animal feed producers, said that the production capacity of New Hope will far outpace the existing production capacity of many local manufacturers.

 

The total production capacity of Paragon's feed mills is about 55 tonnes per hour while New Hope alone will produce 30 tonnes per hour, said Moshiur.

 

The New Hope Group, which has businesses ranging from animal feed through real estate to finance, has also invested in Vietnam and Philippines.