Speakers at a seminar highlighted the adoption of smart agriculture practices to increase agricultural productivity and reduce input costs.
They noted that by adopting technology, agricultural production could increase by 20 to 30 percent, reduce input costs by up to 20 percent, and increase farmers' income by 30 to 40 percent.
ESG compliance reporting standard essential to boost trade, investment: DCCI President
These insights were shared during a seminar on “Smart Agriculture: Issues and Challenges in Value Chain Development” held at the DCCI auditorium in Dhaka's Motijheel on Thursday.
DCCI President Ashraf Ahmed said, "From the farmers to the consumers, we see at least 40-45 percent post-harvest loss."
Exchange rate, higher interest concerning business leaders: DCCI pre-budget discussion
"The logistics chain and the market chain are two very important but separate challenges. To mitigate post-harvest losses, cool-chain and smoother transportation systems are necessary," he added.
"Moreover, we should develop a waste management system so that we can recycle agricultural waste into other products," Ahmed emphasized.
DCCI seminar urges sustainable policy reforms for trillion dollar economy
He identified inefficiencies in the supply chain, market access barriers, and limited value addition as key bottlenecks in accelerating value chain development in Bangladesh's agriculture sector. However, he highlighted the strength of Bangladesh's mobile financial service (MFS) network, which enables farmers to receive subsidies directly through MFS within a short time.
State Minister for Commerce, Ahasanul Islam Titu, attended the seminar as the chief guest. He announced that a fully functioning one-point service desk would soon be established at DCCI to provide online IRC and ERC issuance facilities to importers and exporters.
"By the end of this year, all services of RJSC will also be paperless," he added.
Titu emphasized the need for locally tailored, farmer-friendly technology to implement smart agriculture in the country. He also stressed the importance of ensuring better and more logical prices for both producers and consumers through a smooth supply chain process, including adequate organized commodity markets across the country.
He highlighted that standardization and certification processes would ensure better and more genuine products by specifying the exact origin of the variety.
Titu further mentioned that the Logistic Policy 2024 is set to be a game-changer for businesses.
He reiterated the need for ICT-backed research and innovation to bring more diversification to Bangladesh's product basket.
Business leaders from different sectors also spoke at the seminar.