Cosmetics companies on trail of profits from Thai snail slime

Kitpong Puttarathuvanun, founder and owner of the Acha Snail Serum brand, demonstrating how to clean a snail for serum production. (AFP)
Updated 21 July 2019

Cosmetics companies on trail of profits from Thai snail slime

  • Nakhon Nayok district has more than 80 farms cashing in on global beauty market

NAKHON NAYOK: Giant snails inch across a plate of pumpkin and cucumber in central Thailand, an “organic” diet to tease the prized collagen-rich mucus from the molluscs, which to some cosmetic firms are now more valuable than gold.
The snails at Phatinisiri Thangkeaw’s farm were once the scourge of rice farmers, loathed for eating the buds of new crops.
“Farmers used to throw them on the road or in the rivers,” Phatinisiri told AFP. “But now they sell them to me to earn extra money.”
With her 1,000 snails, the teacher makes an extra $320 to $650 a month.
It is one of more than 80 farms in Nakhon Nayok province, two hours from the capital Bangkok, cashing in on the global snail beauty market, estimated at $314 million, according to research group Coherent Market Insights.
The precious slime is patiently “milked” from the glands of the snail by dripping water over it using a pipette.
Its raw form is sold to Aden International, a Thai-based cosmetics company that primarily ships its products to Korea and the US.
The sole snail slime producer in Thailand, Aden was started three years ago as a business-savvy solution to the snail infestation in Nakhon Nayok, said founder Kitpong Puttarathuvanun. And his bet paid off — Kitpong sells the serum under the Acha brand, but also supplies Korean and American cosmetic companies with a dried powder at 1.8 million baht ($58,200) per kilogram, he said. Gold is currently worth $46,300 a kilogram.
Compared to Aden’s snail slime, the mucus produced in China — milked daily instead of once every three weeks in Thailand — is valued at about 80,000 baht ($2,600) per kilogram, Kitpong said.

FASTFACT

Aden, Thailand’s sole snail slime producer, was founded three years ago in response to a local infestation.

“We found that our slime was very intense because the snails eat everything, including vegetables, grains and even mushrooms ... producing good quality slime,” he told AFP, explaining that the mucus can be used to heal sunburn and “heal wounds.”
Somkamol Manchun, the doctor in charge of the purification process, said that snail mucus contains collagen and elastin — ingredients that “can make skin firm with less wrinkles.”
It “triggers the skin cells ... and helps heal the skin.”
At the moment, no scientific studies have been done on the curative qualities of snail serum and slime, but snail farmer Phatinisiri is already feeling the market heat up.
Two years ago, she was the first in the area to try farming the slime, she said, and villagers readily gave her what they considered pests.
“Now I buy snails at about 25 baht to 30 baht (about $1) per kilogram,” she said. “But many people are doing snail farms now so the competition is high.”


Saudi energy giant to invest $3bn in Bangladesh’s power sector

Updated 22 October 2019

Saudi energy giant to invest $3bn in Bangladesh’s power sector

  • Experts say deal will usher in more economic and development opportunities for the country

DHAKA: Saudi Arabia’s energy giant, ACWA power, will set up an LNG-based 3,600 MW plant in Bangladesh after an agreement was signed in Dhaka on Thursday.

The MoU was signed by ACWA Chairman Mohammed Abunayyan and officials from the Bangladesh Power Development Board (BPDB), officials told Arab News on Monday.

According to the agreement, ACWA will invest $3 billion in Bangladesh’s energy development sector, of which $2.5 billion will be used to build the power plant while the rest will be spent on an LNG terminal to facilitate fuel supply to the plant. Under the deal, ACWA will also set up a 2 MW solar power plant.

In recent months, both countries have engaged in a series of discussions for investment opportunities in Bangladesh’s industry and energy sectors. 

During the Saudi-Bangladesh investment cooperation meeting in March this year, Dhaka proposed a $35 billion investment plan to a high-powered Saudi delegation led by Majed bin Abdullah Al-Qasabi, the Saudi commerce and investment minister, and Mohammed bin Mezyed Al-Tuwaijri, the Saudi economy and planning minister.

However, officials in Dhaka said that this was the first investment deal to be signed between the two countries.

“We have just inked the MoU for building the LNG-based power plant. Now, ACWA will conduct a feasibility study regarding the location of the plant, which is expected to be completed in the next six months,” Khaled Mahmood, chairman of BPDB, told Arab News.

He added that there are several locations in Moheshkhali, Chottogram and the Mongla port area for the proposed power plant.

“We need to find a suitable location where the drift of the river will be suitable for establishing the LNG plant and we need to also consider the suitability of establishing the transmission lines,” Mahmood said.

“It will be either a JV (Joint Venture) or an IPP (Independent Power Producer) mode of investment, which is yet to be determined. But, we are expecting that in next year the investment will start coming here,” Mahmood said.

BPDB expects to complete the set-up process of the power plant within 36 to 42 months.

“We are in close contact with ACWA and focusing on the successful completion of the project within the shortest possible time,” he said.

Abunayyan said that he was optimistic about the new investment deal.

“Bangladesh has been a model for the Muslim world in economic progress. This is our beginning, and our journey and our relationship will last for a long time,” Abunayyan told a gathering after the MoU signing ceremony.

Economists and experts in Bangladesh also welcomed the ACWA investment in the energy development sector.

“This sort of huge and long-term capital investment will create a lot of employment opportunities. On the other hand, it will facilitate other trade negotiations with the Middle Eastern countries, too,” Dr. Nazneen Ahmed, senior research fellow at the Bangladesh Institute of Development Studies (BIDS), told Arab News.

She added that Bangladesh needs to weigh the pros and cons before finalizing such contracts so that the country can earn the “maximum benefits” from the investment.

“It will also expedite other big investments in Bangladesh from different countries,” she said.

Another energy economist, Dr. Asadujjaman, said that Bangladesh needs to exercise caution while conducting the feasibility study for such a huge investment.

“We need to address the environmental aspects, opportunity costs and other economic perspectives while working with this type of big investment. Considering the present situation, the country also needs to focus on producing more solar energy,” Dr. Asadujjaman told Arab News.