BCS & Bank Preparation
Prospects and Challenges of Agri-Business in Bangladesh
The share of agriculture in Bangladesh is quite large and significant but the size of the agribusiness sector in the domestic economy is quite small and growing only slowly. Further, the share of agribusiness in the country’s total exports is also negligible.
With a large current population of about 17 core people which is growing rapidly along with rising income and rapidly growing urbanization, it could be safely argued that the need for food and various other agricultural and agribusiness products in the country would rise rapidly.
For similar reasons, the demand for food and agribusiness products would rise at the global stage, thus opening up more export opportunities for the country. Thus, there are ample opportunities for the country in developing the agribusiness sector for domestic and export market.without this there are also some prospect that are given below:
•Modern technological know-how is available for dissemination
•Scope for expanding hybrid technology exists(10%)
•Prospects for adoption of advanced technology in agriculture are bright
•Potentials for proper utilization of hilly/coastal areas including agro-ecologically disadvantaged regions exist
•Export potentials exist for high-value crops
•Scope for crop diversification, intensification and value addition to agricultural produces
•Agriculture sector has capacity to absorb labor force and to generate income
•Scope for reducing yield gaps exists
1. First, there are severe weaknesses from getting timely supply critical and complementary inputs such as seed, fertilizer, gasoline, agricultural implements, and irrigation facilities, etc. in a timely manner and at reasonable prices from the market as well as from the governmental institutions in charge of providing these critical inputs to the farmers.
2. Second, critical problem is for businesses to market their products due to lack of good supportive infrastructure and extension services such as transportation and communication including roads, highways, storage facilities, distribution and marketing channels, among others. Weaknesses in this area tend provide less revenues and profits for the agribusiness operators.
3. Third, lack of easy access to financing, especially from financial institutions during harvesting and selling seasons cause serious setbacks to producers and operators to meet their financing their needs on a timely manner and at reasonable charges
4. Fifth, the BADC a government agency, put efforts to promote and develop the agricultural and the agribusiness sector since independence of the country. But it became crippled due to poor governance, inadequate funding, lack of political will and rampant corruption. Similar poor performance has been observed for other public projects, initiatives, and policies for the agricultural and the agribusiness sectors
5.Rapid shrinking agricultural land @1% per year is also challenge for Bangladesh
In this context, a growing and vibrant agribusiness sector can help achieve food security, rural employment and income generation, poverty reduction, and thereby contribute to the commercialization of agriculture with concomitant industrialization and economic development of the country.
In addition, Bangladesh can also exploit the global market place in exporting agribusiness products that can provide further contributions to economic development including improving the country’s balance of payment position and in reducing foreign exchange constraints.
Prospects and Challenges of Agri Business in Bangladesh ছাড়া আরও পড়ুনঃ
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