A variety of chili sauces developed by Australian regional food maker Bryon Bay Chilli Co have made a splash in Bangladesh.
Byron Bay Chilli Co has launched six varieties of its sauces – Smokin Mango, Spicy Lemongrass, Fiery Coconut, Heavenly Habanero, Green Jalapeno and Red Bengali – to meet the growing demand for high quality chili sauces.
The well-known Australian condiments will be sold by Bangladesh’s largest processed food conglomerate, PRAN Agro Ltd.
PRAN Agro manufactures more than 200 products to international standards in 10 categories and exports to more than 100 countries.
Under a license agreement, PRAN Agro will also produce the sauces in its Natore factory. This is the first such deal to produce food products in Bangladesh using Australian recipes, technology and branding.
“While other Australian sauces and salsa are imported and sold in Bangladesh, we entered into a production license agreement with PRAN Agro at the end of last year, which will give us an edge in the market,” said said John Boland, director of Bryon Bay Chilli Co.
The license agreement allows PRAN Agro to use the recipes and technology of Byron Bay Chilli Co, while maintaining the brand image of the Australian company. The range will potentially be exported to neighboring markets in South Asia and possibly the Middle East.
“Austrade assisted us in our entry into Bangladesh, providing business support and advice which has been very beneficial to our success,” said Boland.
Gregory Harvey, New Delhi-based Austrade Trade Commissioner and South Asia Food and Agribusiness Team Leader, said the maturity of the Bangladesh palate and the growing demand for innovative international food brands were key factors that helped Byron Bay Chilli to enter into this partnership.
“Bangladesh has a growing middle class of around 30 million people and is rapidly developing as a major consumer market for high quality food products. It also provides access to neighboring markets like Nepal, Bhutan and the northeastern states of India, ”Harvey said.
Australia’s trade with Bangladesh has grown steadily in recent years, with bilateral trade totaling A $ 1.87 billion in 2015. Australian merchandise exports to Bangladesh during the same period amounted to A $ 688 million, with significant exports of pulses, fertilizers and wheat.