Bangladesh revises export target for cement in FY20

The Bangladesh Export Promotion Bureau (EPB) has set an export target for cement industry at US$10.50m for financial year 2019-20 (July 2019-June 2020) compared to US$14m, earmarked for the previous fiscal year. This target has been revised downward by 25 per cent, due to growing demand in the country as well as competition. The number of big construction projects and GDP of Bangladesh are constantly growing, thus government has changed the target, industry observed.

The export value for cement fell 25.6 per cent below the US$14m target set by the government during FY18-19 against US$12.59m set for FY17-18.

According to EPB, Bangladesh's cement industry has earned US$0.66m during the first month, ie July 2019 compared to US$1.09m earned in same month last year. It translates a fall of 39.5 per cent YoY basis. The export figure also includes a minor amount of salt, stone and related products.

Cement is reportedly being exported to India, Myanmar, Nepal, Maldives and Sri Lanka.