Interview taken by Hasan Zakir
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| Moinuddin Monem |
Maintaining its reputation for more than four decades, Igloo Ice Cream is supplying 34 percent of the total market, said A.S.M. Moinuddin Monem, Managing Director and CEO of Abdul Monem Limited. In the interview, he highlighted the crisis and possibilities of the sector. Moinuddin Monem believes that with government policy support, the door to ice cream export will open. Interview taken by Hasan Zakir.
Samakal: What is the total value of the ice cream market in the country? What percentage is Igloo supplying?
Moinuddin Monem: At present, there is demand for ice cream worth 32 to 35 billion taka. Domestic brands have not been able to achieve the capacity to meet the entire demand. As the leading brand, Igloo is supplying 34 percent of total demand.
Samakal: It would be good to get an idea of the total manpower in the ice cream sector. How many people are working with you?
Moinuddin Monem: More than 20,000 people are directly employed in the ice cream business. Igloo Ice Cream has a total manpower of 1,268. Among them, 800 people work in the factory.
Samakal: How many types of ice cream does Igloo have in the market? Which one sells the most considering customer demand?
Moinuddin Monem: Igloo has marketed over a hundred delicious flavors of ice cream. Among them are – Choc Bar, Choc Bar Insta, Shell & Core, Lolly (Lemon, Orange, Lychee, Kiwi, Peach), Dudh Malai, Ego, Mega, Macho, Exotic (Almond Split, Swiss Chocolate), Vanilla Cup, Chocolate Cup, Mango Cup, Strawberry Cup, Snowball, Mango Magic, Cornelli Classic Cone, Cornelli Belgian Cone, Regular Liter (Vanilla, Chocolate, Mango, Strawberry), Double Sundae Mango Melody, Double Sundae Choco Cheers, Double Sundae Strawberry Sparkle, Kheer Malai, Ice Café, Nutrix, Black Forest, Single Sundae, Blueberry Yogurt, Ripple Cake etc. Among these, customers prefer the Cornelli Classic Cone the most.
Samakal: Do you think policy support from the government is necessary for the growth of the ice cream market?
Moinuddin Monem: With government support, the ice cream market will undoubtedly grow larger. We believe the government can declare a separate HS Code for importing raw materials and machinery related to ice cream. For raw material imports, a business-friendly tariff rate can be implemented in line with other industries.
To sell ice cream, sales-generating assets or freezers are required. Currently, there is a 104 percent duty on importing deep freezers. High-quality commercial freezers are not being produced in the domestic market. For this reason, we think it is necessary to add a separate tariff line for importing freezers for VAT-registered ice cream production industries.
Ice cream is a dairy product. It is very necessary to meet the nutritional needs of the people of the country. Since it must be produced and sold while maintaining special temperatures, the cost is very high. For this reason, if the supplementary duty on selling ice cream is lifted, the sector will advance further.
Samakal: During which time is ice cream sold more in the country? Which class of people are the main consumers of ice cream?
Moinuddin Monem: In the country, March to September is considered the ice cream sales season. Among these, March to June is considered the super peak and July to September is considered the semi-peak season. Although people of all ages from children like ice cream, the main consumers are those aged 8 to 30 years.
Samakal: For how many years has Igloo been producing ice cream?
Moinuddin Monem: Igloo Ice Cream and Milk Unit is a subsidiary of Abdul Monem Limited. Abdul Monem Limited has been producing ice cream under the brand name Igloo for about 41 years since 1984.
Samakal: Ice cream is now also being used as a dessert? Could you say something about this...
Moinuddin Monem: Ice cream has versatile uses. Among them, its use as a dessert is becoming very popular. In Western culture, ice cream is actually a dessert. Although it was not very common in Bangladesh before, in the last 10–12 years the use of ice cream as a dessert has multiplied due to the influence of social media.
Samakal: What are your future plans with ice cream?
Moinuddin Monem: Considering demand, Igloo Ice Cream is at the top. Due to various obstacles, we have also noticed some inconsistencies in supply compared to demand. The company’s management board is very active to resolve these, and we are optimistic that after meeting domestic demand, we will be able to export soon.
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