July 20, 2009
Paragon Group to produce layer parent stock in Bangladesh
Poultry group Paragon will produce layer parent stock for the first time in Bangladesh in order to lower the cost of eggs in the country.
Company chairman Moshiur Rahman said cost of layer parent would drop by up to BDT100 per unit as soon as production begins in November this year, under the brand name of Novozen.
The current demand of layer stock is 200,000 per year, which costs BDT210 million to import, with each unit costing EUR5.5 to EUR6 in the world market, Moshiur said.
The new initiative will reduce reliance on imports and increase local demand by 35 to 40 percent, while providing nutrition to consumers at a lower cost, he said.
Bangladesh consumes 400 million eggs per month, and the production of layer parent stock will lower egg price by BDT1 per piece. Each egg now cost BDT7-BDT8 in Bangladesh, nearly twice the price in India, stopping consumers from purchasing the most basic source of protein for their daily consumption.
Hubbard, a global poultry giant, is providing technical support to Paragon which has a market share of about 10 percent in chick and feed meal production.
Paragon director and managing director of layer GP project Yasmin Rahman said the company would use the latest technology to produce the layer parent stocks, which would substantially reduce risk diseases among birds.
US$1 = BDT68.8 (Jul 20)
