Bangladesh Isn't Truly Self-sufficient in Food: Agriculture Min

Agriculture Minister Dr. Abdur Razzak commented that Bangladesh is said to be self-sufficient in food, but in reality the country is not self-sufficient in food.

He said this while speaking as the chief guest at a seminar titled 'Our Position and Actions to Increase Financial Inclusion in Livestock Sector' organized by adorsho praniSheba Limited at a hotel in the capital on Sunday (September 18).

Agriculture Minister Dr. Abdur Razzak said, due to the government's initiative, agricultural production has increased at a large rate. Although the price of eggs is currently high, this price will decrease quickly. We are not self-sufficient in food, but food production has increased. Earlier, people could not eat for one or two days. Now can eat at least two meals a day.

The agriculture minister said that 20 percent of people in Bangladesh still live below the poverty line. It is about 3 crores as per the population of Bangladesh. Earlier, per capita land was 28 deciles, now it has come down to 10 deciles. Since childhood, we have seen mothers in the village sending milk and eggs to the market. So, what we are talking about is their low income.

Abdur Razzak also said that if we want to develop sustainably, we have to determine which sectors of the economy we should give importance to. Although the contribution of livestock to GDP is 2 percent, its importance is much higher. This sector has a lot of potential. If the livestock sector can be managed with skilled labour, this sector will go a long way.

He said, under the leadership of the current government, we have achieved all the conditions of the SDG index by 2015. Our per capita income will exceed $5,000 within 30 years.

The minister said, today you are talking about insurance. The price of a cow is now 8-10 lakhs. It is also important considering how vulnerable a cow is. We also need to consider how customer friendly the insurance is.

He said, the price of fertilizer is lowest in history. Fertilizer was Tk 92 during the tenure of BNP and this government brought it down to Tk 16 when it came to power. This improvement in food is possible only because of our precise planning.

Abdur Razzak said, today we are talking about the price of food, the price of food is so high, if I subsidize everything, why should I subsidize food? Hatchery owners have not been able to sell a single day-old chick in the last 3 years. Farms like Kazi's have buried 100,000 chicks. I want to say that the price of eggs is temporary, it will decrease.

Regarding the production of edible oil, the minister said that within three to four years, the Ministry of Agriculture is implementing a specific action plan to produce 40 percent of the country's demand for edible oil.

Awami League presidium member Abdur Razzak said that real farmers can be given loans without collateral on simpler terms. The government is providing loans to farmers at a low-interest rate of 4 percent in the agricultural sector. But many times the farmers cannot fulfill the existing difficult conditions in getting this loan. For that, the lending process should be simplified. Loans can be given to genuine farmers without collateral.

Mentioning the need for insurance in livestock, the minister said, currently the price of a cow is Tk 5 to 10 lakh. For that livestock must be insured. But the people of the country do not trust the insurance company. They harass and cheat customers extensively. This harassment and fraud should be stopped and insurance should be made customer friendly. People's confidence in insurance should be increased.

Managing Director of Krishi Bank Ismail Hossain, Agriculture and Media Personality Shaikh Siraj, Additional Secretary of Financial Institutions Department Abdullah Harun Pasha, Agriculturalist Awlad Hossain, Professor of Banking and Insurance Department of Dhaka University Hasina Sheikh, Former Managing Director of Bank Asia Arfan Ali, Managing Director of Bangladesh Finance Qaiser Hamid gave other speeches.

The panelists highlighted the importance of financial inclusion, credit, and investment in the livestock sector. They said that there is a need to change the attitude of bankers in providing agricultural loans. Apart from this, most of the banks have not yet set up branches at the village level. On the other hand, microfinance institutions (MFIs) and NGOs take low-interest loans from Bangladesh Bank and distribute loans at high-interest rates of 20 to 25 percent at the village level.

The main article was presented by Ainul Haque, National Project Coordinator of UNIDO and former Director General of the Directorate of Livestock. In the article, the amount of loan disbursement in the livestock sector in the financial year 2020-21 was Tk 3,550 crore, which is 14 percent of the total agricultural loan. The main obstacles to financial inclusion in the livestock sector are procedural complications in the credit process, collateral complications, the reluctance of private banks, violence by middlemen, the mortality risk of livestock, lack of institutional facilities for insurance etc.

The article also states that incredible achievements have been achieved in the last 13 years in the fisheries and livestock sector. Even so, Bangladesh still lags behind developed countries in the average production of meat and milk from animals. Apart from this, more than 100,000 tons of powdered milk and milk products have to be imported every year, which costs about 2000 crore taka.