disbursed among the sector’s entrepreneurs in financial year (FY) 2013-14 as credit. Private commercial banks together shared 72.31 percent of total loans disbursed among the agro-based industry in FY 14 followed by 19.49 percent by foreign banks, 5.19 percent by state-owned banks and 3.0 percent by specialized banks, the BB report says. In the previous FY (2012-13), total credit to the agro-based industry was Tk 21,091 crore, out of which a minor portion of Tk 28,27 crore was term loan. At the end of FY 14, outstanding loan to the agro-based industry stood at Tk 27,300 crore. Bangladesh is known as an agrarian country which has been advancing towards industrial expansion with a rising trend in domestic production and exports. In recent years, the country achieved significant development in the entire agriculture sector by providing various incentives like subsidized seeds, fertiliser and easy farm loans. The country’s annual crop production soared to 3.38 crore tonnes from 2.28 crore tons five years ago, according to the food ministry. Meanwhile, the country is also patronizing exports of various items including farm products. The central bank is also working to make the agro-based industry a sustainable one by creating different credit schemes and asking compliance of banks. In the July-September period of current FY, the country earned $186 million from export of agricultural products against the three months’ target of $163 million. The growth was 14.60 percent over the target, Export Promotion Bureau (EPB) data show. During the same period last fiscal, earnings from agro-based product exports was $146.99 million. Total income from export of agriculture products was $615 million in FY 2013-14. In the export income, according to state-run export promotion agency, share of vegetable was $ 147.55 million, followed by $72.60 million of dry foods, $61.84 million of fruits, $58.68 million of tobacco, $39.34 million of cut flower and foliage, $21.96 of spices, $3.71 million of tea and remaining $209.40 million comes from other agro-based items.
Sunday, October 19, 2014
Agro-based sector suffers for lack of term credits:Daily Sun
disbursed among the sector’s entrepreneurs in financial year (FY) 2013-14 as credit. Private commercial banks together shared 72.31 percent of total loans disbursed among the agro-based industry in FY 14 followed by 19.49 percent by foreign banks, 5.19 percent by state-owned banks and 3.0 percent by specialized banks, the BB report says. In the previous FY (2012-13), total credit to the agro-based industry was Tk 21,091 crore, out of which a minor portion of Tk 28,27 crore was term loan. At the end of FY 14, outstanding loan to the agro-based industry stood at Tk 27,300 crore. Bangladesh is known as an agrarian country which has been advancing towards industrial expansion with a rising trend in domestic production and exports. In recent years, the country achieved significant development in the entire agriculture sector by providing various incentives like subsidized seeds, fertiliser and easy farm loans. The country’s annual crop production soared to 3.38 crore tonnes from 2.28 crore tons five years ago, according to the food ministry. Meanwhile, the country is also patronizing exports of various items including farm products. The central bank is also working to make the agro-based industry a sustainable one by creating different credit schemes and asking compliance of banks. In the July-September period of current FY, the country earned $186 million from export of agricultural products against the three months’ target of $163 million. The growth was 14.60 percent over the target, Export Promotion Bureau (EPB) data show. During the same period last fiscal, earnings from agro-based product exports was $146.99 million. Total income from export of agriculture products was $615 million in FY 2013-14. In the export income, according to state-run export promotion agency, share of vegetable was $ 147.55 million, followed by $72.60 million of dry foods, $61.84 million of fruits, $58.68 million of tobacco, $39.34 million of cut flower and foliage, $21.96 of spices, $3.71 million of tea and remaining $209.40 million comes from other agro-based items.
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