Headquartered in Bangladesh, incorporated in 1982, Bhuiyan Group is the leading name in the diversified businesses like Textiles, Chemicals, Metal & Minerals, Pulp & Paper, Real Estate & Development Construction, and Food Grain. On textiles front the Group enjoys recognition as manufacturer, exporter and importer of cotton and manmade fiber, yarn, fabrics, towels, and chemicals etc. The Group embarks annual turnover of 3,97 Crores Takas, and employs around 1300 employees. Mr Irshad Ali Bhuiyan- the industrialist and veteran, is the Proprietor of the Bhuiyan Group. Aged 46, Mr Bhuiyan hails from the ‘BHUIYAN’ dynasty – the traditional title of land lords in Bangladesh, historically recorded to be patriots who resisted the Mughal rule. Mr Bhuiyan joined this family business post his graduation. Besides, he is also the Associate Member of Chittagong Chamber Of Commerce & Industry, a Member of Export Promotion Bureau of Bangladesh, and member of several charitable and educational trusts. Speaking with Ms Madhu Soni – Correspondent & Editor, Face2Face, Mr Irshad Ali Bhuiyan discusses current issues in textile and allied industries of Bangladesh.
Your company marks its presence into number of fields beside textiles. How do you evaluate its position in textile and related industries? Which countries do you export to?
In our country, Textiles is a vital business for country’s economic growth. And as you may know, it is the 1st category line of earning foreign exchange into country.
We are proud to have created a niche in such vital sector also. Ours is the company ranking at 8th position in towel sector. In spinning too, we are recognized player in Bangladesh. We export to almost all over the globe including regions viz USA, Europe, Asia, China, Malaysia etc.
We still consider ourselves just a growing company. And, believe there are still miles to go.
Your observation on movements in world yarn market today -
Let me begin with market movements of my native land- Bangladesh; as our government already opened the land port, so now consequently, there seems to be some changes in yarn prices in local market. Also, there is already a decrease of about 3 to 5 percent in yarn market price in Bangladesh for buyers who in turn export, and obviously cannot afford squeeze their profit margin to nil.
Overseas buyers may increase price time to time, then the market will be back on track. Now Bangladesh is importing high quality yarn for knitting and weaving from Vietnam, India, and Indonesia.
China has a huge demand for different types of cotton and polyester yarn for knitting and weaving. They import from Bangladesh, India and Vietnam.
Spinning sector of Vietnam is making huge profits, and it is able to cope up with the demand from Bangladesh, China, Turkey, and others.
In Indonesia prices are gone up 30% than yarn of Indian origin, so booking is slow.
India is booming in yarn and cotton sector. These are best profitable business segments for Indian exporters especially for Tamil Nadu region that has been enjoying good profit margins since seven months at least.
International yarn prices diffrence as per origin:
•Indonesia origin about 30% high than India
•Bangladesh origin about 15% to 20% lower than India
•Vietnam origin about 20% lower price than India but quality is little bit different.
•Pakistan origin: no booking no goods to export for Bangladesh
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.