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Bangladesh must focus on oilseed cultivation

Published : Wednesday, 6 November, 2024 at 12:00 AM  Count : 483
Mohammad Moziball Hoque
Bangladesh stands at a crucial juncture in its economic journey. As it approaches graduation from the Least Developed Country (LDC) category, it has demonstrated impressive resilience across key indicators. Yet, one critical dependency remains: a reliance on imported edible oil that drains foreign exchange. Currently, around 90% of Bangladesh's edible oil demand is met through imports-a situation the government aims to address. Expanding local oilseed cultivation isn't just an agricultural ambition; it is an essential strategy to stabilise the economy, empower farmers, and reduce dependency on unpredictable global markets.

As a designer of a market assessments of expanding domestic oilseed production across five districts-Dinajpur, Thakurgaon, Tangail, Laksmipur, and Noakhali, I have witnessed the immense potential of these regions, but the challenges are equally pronounced. To make high-yielding, short-duration, climate-resilient oilseed varieties a core part of Bangladesh's agriculture, an enabling environment that directly supports our farmers is essential.

In Dinajpur and Thakurgaon, high-yielding mustard varieties like Bari-14 are transforming farmer incomes, while Laksmipur and Noakhali are achieving strong results with the resilient BU-2 soybean variety. These varieties enable multiple harvests in a year, which allows crop rotations between rice and mustard, maximising income from limited land. Farmers cultivating these improved varieties report better yields and profitability over traditional varieties.

Despite promising results, farmers face many challenges. Discussions reveal recurring issues: high disease prevalence (with at least 13 diseases affecting mustard and various fungal, bacterial, and viral threats to soybeans), climate volatility, and limited access to financing. In regions with short windows between rice seasons, short-duration oilseed varieties are essential, yet availability is inconsistent. High input costs and limited credit access also prevent farmers from investing in quality seeds, fertilisers, and equipment.

To achieve self-sufficiency in edible oil production, Bangladesh must address these obstacles head-on. We can have proposes several interventions like ensure seed availability. Access to high-yielding, climate-resilient seed varieties must improve. Institutions like BARI and BINA have developed promising varieties, but many farmers cannot access them. Subsidised fertiliser supply are needed for better-quality alternatives. Government subsidies could help lower input costs, making cultivation more affordable. Facilitating access to credit is crucial as affordable financing is critical. Institutions like PKSF could create targeted loan schemes with low-interest rates for oilseed growers, addressing a major financial gap. Region-specific support is unavoidable sD  Each area's unique environmental conditions require tailored approaches to provide effective support and maximise crop potential. Cooperatives could manage production, marketing, and post-harvest processes, providing accountability and a platform for collective bargaining, knowledge sharing, and seed distribution. 

Contract farming arrangements could ensure fair pricing, secure markets, and access to inputs, making oilseed cultivation more attractive. Encourage research partnerships as well as collaborations between research bodies and cooperatives could enable farmers to access disease-resistant, high-yielding varieties, fostering innovation. Engaging young people in agriculture through ICT can help transfer skills and knowledge to future generations, ensuring a sustainable sector. Introduce Community-Based Financing Models: Community financing models like Rotating Savings and Credit Associations (ROSCA) within farmer groups could provide interest-free loans, helping farmers reinvest in their production.

The global oilseed market is projected to reach $385.45 billion by 2030, driven by increasing demand across food, cosmetics, and animal feed industries. This booming market emphasises the need for Bangladesh to reduce its dependency on imports and potentially position itself as a global oilseed producer. Achieving self-sufficiency could save billions in foreign exchange, providing stability to the national economy.

In Fiscal Year 2019-2020 alone, Bangladesh imported around 27.73 lakh metric tonnes of edible oil and oilseeds, costing $2.12 billion. This financial burden underlines the urgent need for dedicated, incentive-based initiatives to encourage oilseed cultivation. The country produced 11.99 lakh metric tonnes of oilseeds last fiscal year, up from 10.59 lakh metric tonnes in 2016-17, but this increase remains inadequate given the nation's growing demand.

Despite rising production, per capita consumption of edible oil in Bangladesh grew by 20% in recent years, reaching 18.4 kg per person in 2022. Import quantities of soybean and palm oil remain high, with expenditures on edible oil imports in 2020-21 reaching Tk 13,464.33 crore. This reliance on imports exposes Bangladesh to market fluctuations, which can disrupt price stability and affect consumer affordability.

The demand for edible oil in Bangladesh is around 24 lakh tonnes annually, with only 300,000 tonnes produced locally. However, the Agriculture Ministry has suggested that an additional 2.6 million tonnes of mustard oilseeds could be produced by optimising fallow land between rice seasons. This could potentially cover nearly half of the country's edible oil demand, highlighting the transformative potential of targeted support. Achieving these goals will require close coordination among government bodies, financial institutions, research organisations, and farmer cooperatives. The journey towards self-sufficiency demands a multi-faceted approach, with a focus on empowering farmers, enhancing market access, and adopting innovative agricultural practices. By prioritising high-yielding, short-duration oilseed varieties, Bangladesh can secure a future where it no longer relies heavily on imported edible oils, while also strengthening its rural communities and food security.

The time for action is now, and with the right support, Bangladesh's oilseed farmers have the potential to drive a transformative shift-one that empowers the nation, stabilises the economy, and ensures food security for future generations.
 
The writer is the Head of Value Chain and Private Sector Engagement at Solidaridad Network Asia



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