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Byron Bay Chilli Co launched six varieties of its famous sauces Smokin Mango, Spicy Lemongrass, Fiery Coconut, Heavenly Habanero, Green Jalapeno and Red Bengali to meet the growing demand for high-quality chilli sauces.
The well-known Australian condiments will be sold through Bangladesh's largest processed food conglomerate, PRAN Agro Ltd.
PRAN Agro manufactures more than 200 international-standard products in 10 categories, and exports to more than 100 countries.
Under a licensing agreement, PRAN Agro will also produce the sauces at its factory in Natore. This is the first agreement of its kind to produce food products in Bangladesh using Australian recipes, technology and branding.
'While other Australian sauces and salsa products are imported and sold in Bangladesh, we secured a licensing production agreement with PRAN Agro late last year which will give us an edge in the market,' says John Boland, Bryon Bay Chilli co-director.
The licensing deal allows PRAN Agro to use Byron Bay Chilli Co's recipes and technology, while maintaining the distinctive Byron Bay Chilli branding. The range will potentially be exported into neighbouring South Asian markets and possibly the Middle East.
'Austrade helped us with our entry into Bangladesh, providing support and business advice which was very beneficial in our success,' says Boland.
Gregory Harvey, Austrade's New Delhi-based trade commissioner and South Asia Food and Agribusiness team leader, says Bangladesh's maturing palate and growing demand for innovative, international food brands were key factors that helped Byron Bay Chilli secure this partnership.
'Bangladesh has a growing middle class of around 30 million and is quickly developing as a significant consumer market for high-quality food products. It also provides access to neighbouring markets like Nepal, Bhutan and the north-eastern states of India,' saysHarvey.
Minhaz Chowdry, Austrade's Bangladesh Country Manager, says Australia has been a long-term supplier of food to communities in Bangladesh, helping make up shortfalls in domestic production.
'The expanding retail and food processing sectors is increasingly opening new opportunities for Australian brands, such as Byron Bay Chilli, in process and packaged products such as fresh juice, jam, honey, cereals, dairy, and pasta,' he says.
Australia's trade with Bangladesh has grown steadily over the past few years, with two-way trade totalling A$1.87 billion in 2015. Australian merchandise exports to Bangladesh in the same period was A$688 million, with significant exports of pulses, fertilisers and wheat.
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