A proposal of 3rd Bangladesh Agribusiness Summit 2012,
Agribusiness in Bangladesh
The economy of Bangladesh is primarily dependent on agriculture. About 84% of the total population lives in rural areas and are directly or indirectly engaged in a wide range of agricultural activities. Agriculture contributes about 20.29% (Source: Bangladesh Economic Review - 2011 Bangla Version) to the country’s GDP- 23%. About 43.6% (Source: Bangladesh Economic Review - 2011 Bangla Version) of the labor force is employed in agriculture with about 57% being employed in the crop sector.
The abundance of natural resources available in Bangladesh supports a range of highly profitable investment opportunities in agribusiness. Over 90 varieties of vegetable are grown in Bangladesh, yet in this fertile land there is under utilization of the country’s agricultural capacity. This presents many opportunities for investors seeking to export agricultural products, or to meet the rapidly growing local demand.
Thriving in this sector are canned juices, fruits, vegetables, dairy and poultry. The country offers:
• Huge supply of raw materials exists for the agribusiness industry.
• A tropical climate for all year growing, a lot of fresh water, indeed a land interspersed with numerous rivers, available land with fertile soil.
• Government and NGOs conduct regular training programs to develop skilled manpower in the industry.
• Wide range of biodiversity exists for different crops.
• Agricultural commodities have a comparatively higher value added than non-agricultural commodities.
Bangladesh has the essential attributes for successful agri-based industries namely rich alluvial soil, a year-round frost-free environment, available water and an abundance of cheap labor. Increased cultivation of vegetables, spices and tropical fruits now grown in Bangladesh could supply raw materials to local...