Not all economic superpowers are industrialised nations. Developed countries such as Denmark and New Zealand are agricultural nations; they still bank on farm produces, excelling in agriculture and exploiting the true potentials of value addition. In its natural resource endowment, Bangladesh is clearly blessed with high potential of growth based on agriculture.However, we have not been able to focus on agriculture as a sector which can grow at a faster rate and contribute to accelerating the overall economic growth. We have laid emphasis on agriculture in two ways – (i) It’s important for national food security so agriculture means primarily a subsistence sector; and (ii) It’s a backward sector that has involved the story of poor farmers and deprivation.
The policy thinking has been content to focus only on the two goals of food security and stabilisation of rural incomes, to the neglect of exploiting the larger growth potentials of the sector. Policy mind-set has prioritised this aspect of the role of agriculture but unfortunately this appears to have been at the expense of tapping the sector’s broader growth potential.
In reality, it’s different – agriculture can emerge as a growth driver in the 21st century. Indeed, re-positioning agriculture as a growth driver will be critical to any successful strategy for growth acceleration to meet the goal of high-end middle income status.
On the ground, there is a silent revolution brought about by the illiterate peasants, be it in the area of adoption of technology or marketing. What has not been done is that we have not been able to undertake policies that could accelerate revolutionary changes all over.
This, I think, will require overcoming both the perception biases about agriculture and prioritising growth-relevant sub-sectors such as fisheries, horticulture, dairy, livestock and poultry. For instance, hilsha fish, a special Bangladeshi delicacy, has a business turnover of US$2 billion annually which can increase over manifold. But we have not seen the required investments for exploiting the potentials of fisheries sector as a whole – floodplain fisheries, aquaculture and marine catch. We have bright prospects of emerging as a major fish exporting country, in view of the natural gift. After delimitation of the maritime boundary, the scope for investments in marine fisheries has widened.
Livestock is an agricultural subsector whose potentials are much, much higher than what we see today. We have serious shortage in supply of milk whereas the people now want to consume it as nutrition of a whole family, not merely the children but reality is we depend on imported milk products. The same is applicable to horticulture sector.
One key area yet to come into focus is agri retail. Investment in this area is central to supply chain efficiency, product quality and price stability. Development of appropriate policy framework to promote such investment with attendant focus on warehousing, customised transportation, product certification, customised outlets including farmer’s markets, etc. is a priority.
We have plenty of opportunities in agro-processing industry that can employ hundreds of thousands of youths including educated ones. Only a few companies are operating in the market and many more can join and help the growth of the sector up to the potential level.
For all these to happen, however, we have to believe that agriculture can be a new growth frontier. Political and social actors need to change their mindset further towards such a goal. People like Shykh Seraj who contributed to making agriculture a popular subject deserve appreciation. We must invite entrepreneurs to joining the farm sector not for any charity or philanthropic purposes but for making it a good business for the benefit of all stakeholders. Bangladesh’s agriculture is the next opportunity frontier.
By
Hossain Zillur Rahman
