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Bangladesh needs to shift towards high-value agriculture: report

Xinhua, May 17, 2016 Adjust font size:

Bangladesh needs to shift towards high-value agriculture, including horticulture, livestock, and fisheries as well as greater value addition to improve farmers' income and household nutrition, says a new World Bank report.

The report, titled "Dynamics of Rural Growth in Bangladesh: Sustaining Poverty Reduction," estimates that a 10 percent rise in farm income generates a 6 percent rise in non-farm income.

The report launched here Tuesday called for greater attention to foster a robust rural non-farm economy. The study which is undertaken in partnership with the Planning Commission of the Government of Bangladesh, identified key changes in the rural economy, principal drivers of rural income, policy implications, and actions needed to foster growth, reduce poverty, and improve food security and nutrition.

"Bangladesh has raised agricultural productivity significantly in the last few decades. It is remarkable that, with so many people and so little arable land, the country has been able to provide sufficient food for almost everyone," said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal.

"While rice will remain its focus, Bangladesh needs to find effective ways to diversify its agriculture, as well as adapt to a changing climate."

The country needs to invest more in research on non-rice crops, livestock, and fishery as well as infrastructure to support the shift towards high-value agriculture.

"The market operates smoothly in Bangladesh. The country now needs upgraded market facilities, increased investments in roads to connect secondary cities, improved rural logistics and access to finance to move to the next level, with more modern and efficient supply chains," said Madhur Gautam, team leader for the study.

"These improvements will help increase income and productivity, and they are especially important as Bangladesh transitions to a more modern food system involving high-value products and greater value addition." Endit