Golden Harvest cancels plan to launch e-commerce business

Golden Harvest Agro Industries has cancelled its plan to launch e-commerce business due to the unstable economic outlook of the country, said the agro-processor today.

The listed company disclosed the information in a filing on the Dhaka Stock Exchange and it came a year after the launching of the e-commerce business.

The board of the company decided not to run the e-commerce platform due to the unstable economic outlook of the country, it said.

In March 2021, the company decided to invest in the fast-rising e-commerce sector in Bangladesh to sell food, grocery items, and tickets and provide medicine delivery. It launched the e-commerce business in August last year.

Shares of Golden Harvest were unchanged at Tk 18.30 on the DSE today.