The Bangladesh seed sector is expected to register a CAGR of 5.8% during the forecast period 2020-2025. Bangladesh being dense in population, highly depends on the agricultural for Food Security and Employment services. According to the FAO, Bangladesh ranks top in Vegetable production worldwide. The seed industry of Bangladesh comprises of both the Public and Private sectors. Bangladesh AgriculturalDevelopment 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 of the government agencies who are 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 313.96, 72.00 and 3.30 thousand MTs, respectively. Though the public sector dominates in the self-pollinating seed crops like rice and wheat, Private players play a major role in supplying the other seeds like Maize and other hybrid seeds.
Key Market Trends
Yield Lag in Self Pollinated crop (Rice & Wheat) to meet the demand
Rice and Wheat are some of the 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 the demand and supply. It has been evident that the yield progress of Wheat and Rice was comparatively lower than expected when compared to that of the Maize crop during 2016 and hence Private players were pushed to invest in high yielding Rice and wheat seeds to address the food security concerns by 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. Based on the forecast it is seen that 90% of the hybrid maize seed are being imported from India into Bangladesh. Hence the private players can utilize the third party R&D facility as per the government policy to figure out the production of In-house hybrid maize seeds. Also, the private players entering the market owing to their own R&D facility is also another added advantage to pierce into the Hybrid seed market.
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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