Growing agri-machinery market attracting investors
Al Amin :
Country’s growing agri-machinery market is attracting domestic and foreign companies to invest as the use of the modern technology-based machinery is illustrated in farming day by day with a view to increasing food production.
Several big companies of the country are either manufacturing or importing the agri-machinery to meet the growing domestic demand. Some of the foreign companies are showing their eagerness to locally manufacture the machinery.
The market size the agri-machinery is around Tk 10,000 crore yearly and the size is expanding faster in the country, while the market size of the spare part is over Tk 3100 crore.
At least four to five companies are selling the machinery produced in Japan and China. Besides, some foreign companies like Japan’s Yamaha and India’s Mahindra and Mahindra Ltd have already initiated manufacturing the machinery in Bangladesh.
According to a data, the sale of thresher was increased to 1045 in 2018-19 from 883 in 2014-15 fiscal year. Paddy harvesting reaper machine was sold 348 pieces in FY 2015-16, which stood at 1,769 in FY 2018-19. Besides, the sale of combined harvester, which was started in 2016-17, increased to 769 in 2018-19.
Apparently the sale of all agri- machinery has also been increased by 150 per cent in the current year.
Experts said if the farmers are trained up efficiently, agricultural mechanization will be more productive for us.
The government will have to patronise the local agricultural machinery and equipment manufacturers to be more productive and self-sufficient as the world has become technology-dependent more and more, they said.
Otherwise, we will not be able to achieve the desired success in the farming sector, they added.
Dr Md Monjurul Alam, Prof of the Department of Farm Power and Machinery of Bangladesh Agriculture University, told The New Nation, “Government will have to take policies so that the foreign companies establish their manufacturing plants in Bangladesh in collaboration with domestic companies.”
If the government is able to do it, the country will get the best technologies along with capacity building, he added.
The Agriculture Ministry, however, said the government is formulating policies to promote the domestic companies in producing small machinery.
Hasanuzzaman Kallol, Additional Secretary of the Ministry, told The New Nation, “We are observing big and sensitive machines like combined harvester machine of the foreign companies as they are showing interest to invest here.”
“But we will give priority to the domestic companies, if they show their willingness,” he added.
There are 60 foundries, 2,000 agricultural types of machinery, spare parts manufacturing factories, and 20,000 machinery repair factories. The domestic companies are meeting 80 per cent of the demand for spare parts.
Alimul Ehsan Chowdhury, President of the Agriculture Machinery Manufacturers Association, said that many domestic and foreign reputed companies are showing interest to invest in the sector as the market of the agri-machinery is expanding gradually in the country.
“The government is giving subsidy in purchasing heavy machinery. It is better not to subsidize the heavy machines that are being produced in the country. Because it will harm the local industry,” Ehsan said.
Country’s growing agri-machinery market is attracting domestic and foreign companies to invest as the use of the modern technology-based machinery is illustrated in farming day by day with a view to increasing food production.
Several big companies of the country are either manufacturing or importing the agri-machinery to meet the growing domestic demand. Some of the foreign companies are showing their eagerness to locally manufacture the machinery.
The market size the agri-machinery is around Tk 10,000 crore yearly and the size is expanding faster in the country, while the market size of the spare part is over Tk 3100 crore.
At least four to five companies are selling the machinery produced in Japan and China. Besides, some foreign companies like Japan’s Yamaha and India’s Mahindra and Mahindra Ltd have already initiated manufacturing the machinery in Bangladesh.
According to a data, the sale of thresher was increased to 1045 in 2018-19 from 883 in 2014-15 fiscal year. Paddy harvesting reaper machine was sold 348 pieces in FY 2015-16, which stood at 1,769 in FY 2018-19. Besides, the sale of combined harvester, which was started in 2016-17, increased to 769 in 2018-19.
Apparently the sale of all agri- machinery has also been increased by 150 per cent in the current year.
Experts said if the farmers are trained up efficiently, agricultural mechanization will be more productive for us.
The government will have to patronise the local agricultural machinery and equipment manufacturers to be more productive and self-sufficient as the world has become technology-dependent more and more, they said.
Otherwise, we will not be able to achieve the desired success in the farming sector, they added.
Dr Md Monjurul Alam, Prof of the Department of Farm Power and Machinery of Bangladesh Agriculture University, told The New Nation, “Government will have to take policies so that the foreign companies establish their manufacturing plants in Bangladesh in collaboration with domestic companies.”
If the government is able to do it, the country will get the best technologies along with capacity building, he added.
The Agriculture Ministry, however, said the government is formulating policies to promote the domestic companies in producing small machinery.
Hasanuzzaman Kallol, Additional Secretary of the Ministry, told The New Nation, “We are observing big and sensitive machines like combined harvester machine of the foreign companies as they are showing interest to invest here.”
“But we will give priority to the domestic companies, if they show their willingness,” he added.
There are 60 foundries, 2,000 agricultural types of machinery, spare parts manufacturing factories, and 20,000 machinery repair factories. The domestic companies are meeting 80 per cent of the demand for spare parts.
Alimul Ehsan Chowdhury, President of the Agriculture Machinery Manufacturers Association, said that many domestic and foreign reputed companies are showing interest to invest in the sector as the market of the agri-machinery is expanding gradually in the country.
“The government is giving subsidy in purchasing heavy machinery. It is better not to subsidize the heavy machines that are being produced in the country. Because it will harm the local industry,” Ehsan said.
