Bizdata Insights Main Logo

BizData Insights

Apex Foods Intends to Sell Processed White Fish to Europe

Industry: Fisheries
Company: Apex Foods Limited
Company Intelligence Tag: Business Insights

Apex Foods Limited seeks to import white fish from Europe and Africa to process them in their factory, adding 40% value and earning over $1 per kilogram. A meeting held on February 14 involved representatives from various departments and Apex Foods, discussing the import process and forming a technical committee. Currently, the import duty on white fish is 58%.

The company aims to utilize its unused processing capacity due to shrimp supply shortages. With a processing capacity of 67 tonnes per day and three cold storages with a capacity of 2,400 tonnes, the company has invested Tk150 crore in the sector, with an annual turnover of around Tk400 crore and employing approximately 1,000 workers. Concerns have been raised about the import of marine fish due to lack of heavy metal testing, despite radiation and formalin tests being conducted. In 2018-19 FY, 80,000 tonnes of marine fish were imported, decreasing to 12,000 tonnes in 2022-23 FY, while 66,374 tonnes of frozen fish were imported in 2021-22 FY.

Source for more details:

Related News

BB Approves Prime Bank for Bancassurance Business Operations

April 21, 2024

Prime Bank recently obtained approval from the Bangladesh Bank to initiate its bancassurance business. The approval letter was handed over during a ceremony at BB headquarters in Motijheel

Fareast Finance Fails to Return Tk1.08 Crore of Expired FDRs to BIPD

April 21, 2024

Fareast Finance and Investment Limited failed to return Tk 1 crore 8 lakh 35 thousand of expired Fixed Deposit Receipts (FDRs) to the Bangladesh Institute for Professional Development (BIPD) and has not paid any interest. Despite repeated letters to regulatory bodies like the Central Bank, Ministry of Finance, and Bangladesh Securities and Exchange Commission, no solution has been provided.

11 Banks’ Net Profit Increases by 22% in 2023

April 21, 2024

11 out of 36 banks listed on the stock market disclosed their audited financial reports for 2023. With only ICB Islamic Bank reporting a loss, the remaining ten banks collectively achieved a net profit of Tk 5,232 crore, marking a 22 percent increase from the previous year. Notably, eight of these banks saw their net profits rise compared to the prior year. Among them, Dutch-Bangla Bank experienced a remarkable

Withdrawal Surge Hits BASIC and National Bank Amid Merger Talks

April 21, 2024

The BASIC Bank and National Bank are experiencing a surge in withdrawals amid reports of impending mergers with private banks. BASIC Bank's deposits dropped from Tk 15,935 crore to around Tk 12,000 crore, with Tk 2,000 crore withdrawn in a few days.

DSEX Benchmark Index Declines by 3.03%

April 21, 2024

The Dhaka Stock Exchange (DSE) endured another week of decline, with the stock market index falling consecutively over the last four days. Heightened concerns over the Iran-Israel conflict and global political instability have intensified investor apprehensions, exacerbating the market's fragile state. Market observers attribute the persistent downturn to the absence of institutional investors, who are

Epic Health Care to Launch Third Branch

April 21, 2024

Healthcare provider Epic Health Care is launching a new branch in Chattogram. The opening ceremony at Chattogram Medical College Hospital's East Gate in Panchlaish will be attended by Chattogram City Corporation Mayor and Federation of Bangladesh Chambers of Commerce and Industry President.

Related News

BB Approves Prime Bank for Bancassurance Business Operations

April 21, 2024

Prime Bank recently obtained approval from the Bangladesh Bank to initiate its bancassurance business. The approval letter was handed over during a ceremony at BB headquarters in Motijheel

Fareast Finance Fails to Return Tk1.08 Crore of Expired FDRs to BIPD

April 21, 2024

Fareast Finance and Investment Limited failed to return Tk 1 crore 8 lakh 35 thousand of expired Fixed Deposit Receipts (FDRs) to the Bangladesh Institute for Professional Development (BIPD) and has not paid any interest. Despite repeated letters to regulatory bodies like the Central Bank, Ministry of Finance, and Bangladesh Securities and Exchange Commission, no solution has been provided.

11 Banks’ Net Profit Increases by 22% in 2023

April 21, 2024

11 out of 36 banks listed on the stock market disclosed their audited financial reports for 2023. With only ICB Islamic Bank reporting a loss, the remaining ten banks collectively achieved a net profit of Tk 5,232 crore, marking a 22 percent increase from the previous year. Notably, eight of these banks saw their net profits rise compared to the prior year. Among them, Dutch-Bangla Bank experienced a remarkable

Withdrawal Surge Hits BASIC and National Bank Amid Merger Talks

April 21, 2024

The BASIC Bank and National Bank are experiencing a surge in withdrawals amid reports of impending mergers with private banks. BASIC Bank's deposits dropped from Tk 15,935 crore to around Tk 12,000 crore, with Tk 2,000 crore withdrawn in a few days.

DSEX Benchmark Index Declines by 3.03%

April 21, 2024

The Dhaka Stock Exchange (DSE) endured another week of decline, with the stock market index falling consecutively over the last four days. Heightened concerns over the Iran-Israel conflict and global political instability have intensified investor apprehensions, exacerbating the market's fragile state. Market observers attribute the persistent downturn to the absence of institutional investors, who are

Epic Health Care to Launch Third Branch

April 21, 2024

Healthcare provider Epic Health Care is launching a new branch in Chattogram. The opening ceremony at Chattogram Medical College Hospital's East Gate in Panchlaish will be attended by Chattogram City Corporation Mayor and Federation of Bangladesh Chambers of Commerce and Industry President.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here