| Formation | 1 July 1976 |
|---|---|
| Headquarters | Dhaka, Bangladesh |
Region served | Bangladesh |
Official language | Bengali |
Revenue |  $ 96 million (2019) |
| Website | bsfic |
Bangladesh Sugar and Food Industries Corporation(BSFIC), [1] is a government owned corporation in Bangladesh that is charge of sugar production. [2] [3] It is under the Ministry of Industries. [4]
Bangladesh Sugar and Food Industries Corporation was established on 1 July 1976. [5] The Corporation was in charge of 15 state run sugar mills of the country in 2015. [6] It tried to export sugar to Europe. [7]
In 2012 Private dealers didn't take order from the Corporation, as it offered a higher price than the market. [8] It has lobbied for more tariffs on imports to increase sales and reduce its stockpile of sugar. [9]
In 2014, BSFIC started selling sugar at 40 taka per kg, which was half of the production cost. [10]
About 16 sugar mills were nationalised following the independence of Bangladesh and later they became subsidiaries of the Industrial enterprise placed under Bangladesh Sugar Mills Corporation. [11] The list is given below:
The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
The economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove development for the subsequent three centuries. Independence was achieved in 1822. Slavery was fully abolished in 1888. Important structural transformations began in the 1930s, when important steps were taken to change Brazil into a modern, industrialized economy.
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The textile and clothing industries provide a single source of growth in Bangladesh's rapidly developing economy. Exports of textiles and garments are the principal source of foreign exchange earnings. By 2002 exports of textiles, clothing, and ready-made garments (RMG) accounted for 77% of Bangladesh's total merchandise exports. Emerging as the world's second-largest exporter of ready-made garment (RMG) products, Bangladesh significantly bolstered employment within the manufacturing sector.
Agriculture is the largest employment sector in Bangladesh, making up 14.2 percent of Bangladesh's GDP in 2017 and employing about 42.7 percent of the workforce. The performance of this sector has an overwhelming impact on major macroeconomic objectives like employment generation, poverty alleviation, human resources development, food security, and other economic and social forces. A plurality of Bangladeshis earn their living from agriculture. Due to a number of factors, Bangladesh's labour-intensive agriculture has achieved steady increases in food grain production despite the often unfavorable weather conditions. These include better flood control and irrigation, a generally more efficient use of fertilisers, as well as the establishment of better distribution and rural credit networks.
Trade is a key factor of the economy of China. In the three decades following the dump of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
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Bashundhara Group is a Bangladeshi conglomerate and one of the largest manufacturing companies in Bangladesh. It was incorporated in 1987 as a real estate company under the name East West Property Development Ltd (EWPD). After its first project turned out to be successful, the company grew quickly. It presently owns more than 50 major concerns throughout Bangladesh. The company's import-export turnover was $1.12 billion or BDT 111.38 billion in the 2022-23 fiscal year. In the 2018 fiscal year, the company's real estate holdings amounted to BDT 50,000 crores, or $4.6 billion.
Meghna Group of Industries (MGI) is one of the largest Bangladeshi industrial conglomerates. The industries under this conglomerate include chemicals, cement, consumer products, real estate, insurance, securities, utilities, etc.
City Group is one of the largest Bangladeshi conglomerates. It began on 6 February 1972 as a mustard oil company venture under the name City Oil Mills. The first project of City Oil Mills turned out to be very successful. After then, the company grew very quickly. It presently owns more than 25 major concerns located throughout Bangladesh. Now, City Group stands as one of top ten business houses in Bangladesh.
As of 2005, the Philippines was the ninth largest sugar producer in the world and second largest sugar producer among the Association of Southeast Asian Nations (ASEAN) countries, after Thailand, according to Food and Agriculture Organization. At least seventeen provinces of the Philippines have grown sugarcane, of which the two on Negros Island account for half of the nation's total production, and sugar is one of the Philippines' most important agricultural exports. As of crop year 2009–2010, 29 sugar mills are operational divided as follows: thirteen mills on Negros, six mills on Luzon, four mills on Panay, three mills in Eastern Visayas and three mills on Mindanao.
The T K Group of Industries is a Bangladeshi industrial Conglomerate known for its vegetable oil business. It also has interests in steel, shipbuilding, pulp and paper, plastics, cement, and textiles. The conglomerate is headquartered in Chittagong. The group is one of the top VAT payers in the country.
The Shahjalal Fertiliser Factory is one of the biggest fertiliser factories in Bangladesh. It is situated at NGFF, Fenchuganj Upazila in Sylhet. The project was inaugurated by Bangladeshi prime minister Sheikh Hasina.
The Ministry of Industries is primarily responsible for developing new policies and strategies for promotion, expansion and sustainable development of Industrial sector of Bangladesh. The minister as of January 2019 was Nurul Majid Mahmud Humayun.
Bangladesh Textile Mills Corporation, or BTMC, is a public corporation that owns and manages all government textile mills in Bangladesh and is located in Dhaka. It manages 18 government owned textile factories.
Bangladesh Sugarcrop Research Institute or BSRI, is an autonomous national research institute that carries out research on sugarcane and other related plants. It is located in Ishwardi Upazila, Pabna, Bangladesh. It falls under the Ministry of Agriculture.
Abdul Haleem Chowdhury was a Bangladesh Nationalist Party politician, Member of Parliament, and government minister. He is a retired captain of Pakistan Army and fought in the Bangladesh Liberation War. His son-in-law is Mafizul Islam Khan Kamal.
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The jute industry is a historically and culturally important industry in Bangladesh dating back to during the growth of the East India Company in the Indian subcontinent. Despite once being one of the country's biggest industries and major export items, the jute industry has declined since the 1970s. Exports have fallen as other countries grow jute independently, decreasing the demand for jute to be exported, and other products like plastics and hemp find more widespread use.
Deshbandhu Group is a Bangladeshi diversified conglomerate based in Dhaka. Golam Mostafa is the Chairperson and Golam Rahman is the Managing Director of Deshbandhu Group. It headquarters in Mostafa Centre, Banani, is located inside a residential neighborhood.
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