A recent study revealed that farmers incurred a loss worth Tk 565 billion during the 45-day general holidays announced by the government to prevent the spread of coronavirus. The findings of the study were disclosed at an online press conference organised by BRAC. The prices and sales of essential agricultural products, especially coarse rice and red lentils, went up during the early days of the pandemic due to panic buying, however, the 300 per cent rise of the essential did not benefit farmers. The study suggested several recommendations for boosting agriculture in the coming days.
The producers of non-relief and perishable items also had a hard time to continue the production and sales of their products. Overall, 88 per cent of farmers have incurred losses due to disruptions in production and marketing. Some 66 per cent farmers mentioned lack of fair prices, 52 per cent pointed out limited operation of markets, 45 per cent reported higher prices of inputs and 28 per cent mentioned labour shortage as the major causes of their sufferings. Due to damages to their products and low prices, each farmer suffered a loss of an average of Tk 0.207 million during the 45 days. Based on the number of farmers in each of the sub-sectors, the value of the loss was estimated at Tk 565.36 billion.
Developing a farmer-friendly credit disbursement system, introducing innovative disbursement mechanisms through mobile financial services and NGOs, and reducing red-tape barriers are all essentials to rebound the farmers and country’s food production. The study recommended the establishment of collection centres for agro-products closer to smallholder producers and, facilitating and providing incentives to boost the backward and forward linkages of the sectors. The research also stressed the need for developing sub-sector based short, mid and long-term plans, focusing on innovative tech-based agribusiness models and making quality seeds and other inputs available to farmers.
The producers of non-relief and perishable items also had a hard time to continue the production and sales of their products. Overall, 88 per cent of farmers have incurred losses due to disruptions in production and marketing. Some 66 per cent farmers mentioned lack of fair prices, 52 per cent pointed out limited operation of markets, 45 per cent reported higher prices of inputs and 28 per cent mentioned labour shortage as the major causes of their sufferings. Due to damages to their products and low prices, each farmer suffered a loss of an average of Tk 0.207 million during the 45 days. Based on the number of farmers in each of the sub-sectors, the value of the loss was estimated at Tk 565.36 billion.
Developing a farmer-friendly credit disbursement system, introducing innovative disbursement mechanisms through mobile financial services and NGOs, and reducing red-tape barriers are all essentials to rebound the farmers and country’s food production. The study recommended the establishment of collection centres for agro-products closer to smallholder producers and, facilitating and providing incentives to boost the backward and forward linkages of the sectors. The research also stressed the need for developing sub-sector based short, mid and long-term plans, focusing on innovative tech-based agribusiness models and making quality seeds and other inputs available to farmers.
