Pran triples export earnings in 4 years

Pran, a leading food processor, has tripled its export earnings in the last four years to more than $144 million (Tk 1,126 crore) now.

“We have a target to make our local sales and exports equal by next year,” said Kamruzzaman Kamal, director of marketing at Pran-RFL Group.

To that end, the company has been exploring new export markets -- from America to Africa and Asia.

Currently, one-fourth of Pran's revenues come from exports: the group's sales revenue, both from domestic and overseas markets, was more than $500 million last fiscal year.

The group exported goods worth $50.93 million in fiscal 2010-11, which increased to $144.36 million in fiscal 2014-15 -- an impressive 183.44 percent growth.

Pran started exporting in 1997 with canned pineapple to France. Now, the group exports to 114 countries -- from India to Middle East and Africa, Europe to North America.

India, which is the world's second largest consumer market, accounts for one-third of Pran's export receipts.

Exports to India increased 217 percent to $49.15 million last fiscal year from $15 million four years ago.

To consolidate its earnings further, the company is strengthening its sales and distribution channels in the neighbouring country such that it can reach out to the remote areas where the local companies' penetration is not much, Kamal said.

Though Pran's goods are sold in Bihar, West Bengal, Odisha, Jharkhand, Chhattisgarh, Tamil Nadu, Rajasthan, Kerala and Andhra Pradesh, half of its receipts come from the northeastern provinces.

The company could have expanded its markets in India even more if it were allowed to invest and build a factory there, its officials said.

The group has been trying for nearly 15 years to get the central bank's permission to take capital to India, Kamal said.

After India, the Gulf and African countries are the biggest buyers of Pran's products. 

Set up in 1981 as a fruit and vegetable processor, the company is now producing more than 200 food products under 10 different categories -- juices, drinks, mineral water, bakery, carbonated beverages, snacks, culinary, confectionery, biscuits and dairy.