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Export of Agricultural Products can be a Major Source of Foreign Exchange

In 1971, from where the journey of the newly independent Bangladesh began, the global landscape is now much more complex than ever. To maintain its status as an unblemished nation, it requires visionary thinking, innovative planning, and courageous initiatives in various fields. This crores-of-taka vision has been presented, aiming at a prosperous future for Bangladesh.

The adoption, acceptance, and implementation of farmer-friendly policies have led to significant success in agriculture in Bangladesh. The primary goal after achieving almost self-sufficiency in food is to modernize agriculture and diversify agricultural products for foreign exchange earnings. Currently, Bangladesh exports various agricultural products to different countries around the world.

According to the Export Promotion Bureau of Bangladesh, notable agricultural export items include jute and jute goods, aromatic rice, vegetables, fruits, various spices, tobacco, dry foods, among others. In the first nine months of the last fiscal year (July-March), the total amount of earnings from these agricultural products was 958 million dollars.

A significant portion of Bangladesh’s export earnings is attributed to aromatic rice, while the main destinations for Bangladesh’s agricultural product exports are the European Union, South and Southeast Asian regions. In these countries, Bangladeshi expatriates, as well as other South Asian immigrants, are the main consumers.

There is immense potential for diversification in terms of import and export of agricultural products. Foreign demand for Bangladeshi agricultural products is high. Ensuring the production of quality products through technological modernization and sustainable practices guarantees rapid progress for Bangladesh.

According to the Export Promotion Bureau, just twelve years ago, the earnings from agricultural exports were only 40 crore dollars. If no significant exceptions are considered, the income from agricultural exports in recent years is steadily increasing. Among the over 10,000 crore dollars of agricultural products exported from Bangladesh, a significant portion comprises processed food items.

In many countries around the world, processed food is not produced in sufficient quantities, and they mainly rely on imports. Therefore, in the days to come, there will be an increased demand for processed food. Consequently, to increase agricultural exports, our country’s agriculture should become more production-oriented and export-diversified.

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