Bangladesh Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Bangladesh Seed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Bangladeshi seed market is projected to register a CAGR of 5.8% during the forecast period (2021-2026).

The COVID-19 pandemic has caused a serious impact on the production, certification, distribution, and cost of seeds, which play a key role in developing the agricultural sector in Bangladesh. International trade has suffered due to slow or lack of transportation, labor shortages, and a contraction in the market for plants and seeds. The classification of seeds as essential by the national government has contributed to mitigating the damage by ensuring the continuous movement of seeds.

Bangladesh being dense in population, highly depends on agriculture for Food Security and Employment services. According to the FAO, Bangladesh ranks top in vegetable production worldwide. The seed industry of Bangladesh comprises both the public and private sectors. Bangladesh Agricultural Development Corporation (BADC), Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), Bangladesh Jute Research Institute (BJRI), and Department of Agricultural Extension (DAE) are some government agencies responsible for the production and supply of the commercial seeds in the market.

Rice, wheat, and maize are the country’s major cereal crops, and the annual seed demand for each of these three crops is about 314.0, 72.0, and 3.3 thousand metric ton, respectively. Though the public sector dominates the self-pollinating seed crops like rice and wheat, private players play a major role in supplying other seeds like maize and other hybrid seeds.

Key Market TrendsYield Lag in Self-pollinated Varieties

Rice and wheat are some major crops cultivated in Bangladesh, and with the increase in population every year, it is mandatory for them to cope with the growth to meet demand and supply. It has been evident that the yield progress of wheat and rice was comparatively lower than expected compared to that of the maize crop during 2016. Hence, private players were pushed to invest in high-yielding rice and wheat seeds to address the food security concerns by the Bangladesh government.

Demand for Hybrid Seeds

Maize, unlike rice and wheat, is a non-noticeable crop and hence easier for the private players to enter into the Maize market. Every year Bangladesh imports around 90.0% of hybrid maize seed from India. However, the Bangladesh government is boosting in-house hybrid maize seed production through its agricultural policy. The private players can utilize the third-party R&D facility to figure out the production of In-house hybrid maize seeds. Also, the private players entering the market with their own R&D facility will be an added advantage to pierce into the hybrid seed market as that would help the company in keeping the cost under control.

Competitive Landscape

The overall Bangladesh seed market is fragmented because of the presence of local players marketing certified commercial seeds. However, there are two major segments as Public and private seed Manufacturers and suppliers. The major players in the seed market of Bangladesh are BRAC Seed and Agro Enterprise, Lal Teer Seed, Advanta Seeds Pty Ltd, Bayer Crop Science, and Bioseed.

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