Bangladesh Agriculture Sector
Bangladesh as a country covers an area of 147,570 square kilometer, is one of the predominantly Agro based developing countries of the World. Since independence in 1971, Agriculture has been the core sector of Bangladesh economy which contributes around 17% of the GDP and provides employment to about 45% of the labour force. About 84% of the rural people of the country directly or indirectly depends on agriculture for their livelihood.
Decrease of agricultural land is one of the alarming characteristics of agriculture in Bangladesh –Agricultural land in Bangladesh accounted to 92% of land area in 1976 which got reduced to 83.53% in 2010 and now accounts to about 73%, due to urbanization, industrialization and rise of sea levels.
Chemical fertilizer import and utilization has increased over the last decade after the government introduced payment subsidy on imported fertilizers allowing farmers to get good profit on their crops output. Bangladesh has observed a 5% Year Over Year (YOY) growth on the import of phosphatic fertilizer in 2019, about 9% in 2020 and about 100% more in 2021.
Historically Bangladesh has lacked Natural Resources, especially the much-needed raw material for produce fertilizer. That’s why Bangladesh imports raw material to produce fertilizer such as Rock Phosphate, Rock Sulphur and Phosphoric Acid.
Chemical fertilizer import and utilization has increased over the last decade after the government introduced payment subsidy on imported fertilizers allowing farmers to get good profit on their crops output. Bangladesh has observed a 5% Year Over Year (YOY) growth on the import of phosphatic fertilizer in 2019, about 9% in 2020 and about 100% more in 2021.
Historically Bangladesh has lacked Natural Resources, especially the much-needed raw material for produce fertilizer. That’s why Bangladesh imports raw material to produce fertilizer such as Rock Phosphate, Rock Sulphur and Phosphoric Acid.