Agriculture Needs Subsidies and Incentives to Become Profitable: Mirza Fakhrul

President Mirza Fakhrul Islam Alamgir has said the government must provide subsidies and incentives and increase support for farmers to make agriculture a profitable sector. He noted that although the World Bank and the International Monetary Fund (IMF) discourage subsidies in some circumstances, supporting farmers remains essential for agricultural development.

He made the remarks on Thursday, October 15, at an exchange meeting with agricultural scientists organised by the Bangladesh Agricultural Research Institute.

The president said research should address existing gaps in the agricultural sector. Farmers often fail to receive fair prices after harvesting their crops, while they have to buy seeds at higher prices when preparing to cultivate. As a result, many farmers struggle to earn an adequate income from agriculture.

He observed that farming is no longer sufficiently profitable for many people. Low earnings relative to the cost of living have made agricultural labour harder to find, while some workers are leaving the profession for other occupations. The government must respond with incentives and practical assistance for farmers, he said.

Fakhrul also stressed the need for cold-storage facilities to preserve fruits and vegetables for longer periods, calling on the private sector to play a greater role in developing such infrastructure.

Highlighting progress in onion cultivation, he said Bangladesh had made significant advances and no longer needed to rely on imports as it had in the past. The country has also progressed in fruit production, but processing and preservation facilities need further improvement. He called for greater farmer awareness about fertiliser use and warned that excessive chemical fertiliser can reduce soil fertility.

The president also urged the authorities to improve the benefits and facilities available to agricultural scientists. He said arrangements should be made to provide them with pensions, even if changes to existing laws are required.

Referring to the condition of public institutions, Fakhrul said prolonged authoritarian rule had damaged institutions and allowed arbitrariness and corruption to spread. He said there was now an opportunity to move beyond that situation and expressed confidence that steady progress and patience could lead to success.

The meeting also addressed major challenges and opportunities in Bangladesh’s agricultural sector. Speakers said that alongside increasing production, greater attention must be paid to product quality. With domestic output of many agricultural products rising, they called for stronger efforts to expand exports and reach consumers in international markets.

Participants also emphasised research into improved pesticides that take environmental protection into account.