Bangladesh’s agricultural sector, the backbone of its economy, faces a crisis.
Nearly 60% of farmers remain unbanked, trapped in a cycle of high-interest loans from moneylenders.
This cripples investment and innovation, leaving productivity stagnant.
While the government disputes the exact number, one thing is clear: having a bank account doesn’t guarantee financial inclusion.
The traditional model, dominated by small, independent farmers, lacks access to crucial tools.
Data-driven solutions like crop insurance and advanced technologies remain out of reach.
This is despite Bangladesh having a staggering 18 department’s dedicated to agricultural development.
The disconnect is clear: the sector struggles to integrate solutions from the Fourth Industrial Revolution (4IR).
Embracing digital finance, online markets, and automated technologies is critical for boosting productivity.
The picture gets bleaker when considering post-harvest losses.
Studies estimate a staggering $2.5 billion annually, with 44% of perishable food going to waste.
Inadequate storage, poor transportation infrastructure, and a knowledge gap among farmers are major contributors.
However, there’s a silver lining. Experts like Dhaka Chamber of Commerce & Industry (DCCI) President Ashraf Ahmed highlight the potential of “smart agriculture.”
These practices can increase productivity by 20-30%, reduce costs, and raise farmer incomes. The need for locally tailored technologies, fair pricing for producers and consumers, and a streamlined supply chain is also crucial.
The path forward is clear. Bangladesh must bridge the gap between traditional farming and 4IR solutions.
By promoting digital inclusion, investing in infrastructure, and fostering innovation, the nation can unlock the true potential of its agricultural sector.
This transformation can turn a stagnant breadbasket into a dynamic engine of growth.
It is time for stakeholders, including the government, private sector, and international partners, to collaborate and prioritize these changes. Policies that promote tech adoption and digital literacy are essential.
Investments in modern storage facilities and transportation networks will mitigate post-harvest losses.
Empowering farmers with knowledge and access to digital tools will enable them to thrive in a competitive market.
Bangladesh’s agricultural sector stands at a crossroads.
The choices today will determine whether it remains stagnant or becomes a powerhouse of progress. Let’s seize this opportunity to propel the sector—and the nation—into a prosperous future.