What is the Scope of Agribusiness after the covid-19 pandemic Situation?

What is the Scope of Agribusiness after the covid-19 pandemic Situation?
What is the Scope of Agribusiness after the covid-19 pandemic Situation?

What is the Scope of Agribusiness after the covid-19 pandemic Situation?

Agribusiness is a term that bridges Agriculture and Business. In 1950, the term was first introduced by Harvard Business School (HBS) Professors Ray Goldberg and John Davis. The pandemic might also have a severely detrimental impact on the livelihoods of millions of plantation workers in developing countries who work in export-oriented, labor-intensive agriculture.The COVID-19 outbreak wreaked havoc on the agriculture industry. Lockdowns and restrictions on people’s mobility slowed the movement of products both locally and internationally. 

  • Demand for agricultural inputs such as feed and fodder, inorganic fertilizers, and bio-fertilizers is increasing.
  • Biotechnology applications in agriculture offer a wide range of applications, including seed production, biocontrol agents, and industrial microbe harnessing for baking items.
  • Exports can be utilized to boost the economy. The product line includes cereals, pulses, oilseeds and oils, oil meal, spices and condiments, fruits and vegetables, flowers, medicinal plants and essential oils, agricultural advisory services, agricultural tools and implements, meat, milk and milk products, fish and fish products, ornamental fish, forest byproducts, and agricultural advisory services.
  • Agricultural commodities are currently processed only at the primary level, but as the standard of life rises, prospects for secondary and tertiary processing of agricultural commodities develop.
  • large coastal lines and internal waterways present huge opportunities for the production of marine and inland fish, as well as ornamental fish culture, which is increasing in popularity as the country’s aesthetic value rises.
  • The abundance of livestock allows for a huge range of meat, milk and milk products, poultry products, and other items to be produced.
  • Forest resources can be used to make forestry byproducts.
  • Beekeeping and apiculture can be done on a vast scale.
  • Mushroom production for domestic consumption and export can be increased if the state of the art of mushroom production is improved.
  • Organic farming has the greatest potential for organic farming because it uses fewer pesticides and inorganic fertilizers than other industrialized countries. Farmers can be persuaded and educated to make the move to organic farming.
  • There is a lot of room for bio-pesticides and bio-control agents to be developed and promoted for crop protection.
  • Seeds, hybrids, and genetically modified crops have the most future promise, as high-yielding types have reached a plateau in productivity.
  • Due to diminishing groundwater levels and manpower scarcity for agricultural operations such as weeding, transplanting, and harvesting, micro-irrigation systems, and labor-saving farm equipment have a bright future.
  • Vegetable and flower production under greenhouse conditions can be used to tap into the export market.
  • Due to declining state financial resources and downsizing the current government agricultural extension workforce as consulting services, trained human resources in agriculture and related sciences will take on the agricultural extension system.
  • Increased agricultural production creates job opportunities in marketing, transportation, cold storage and warehousing, credit, insurance, and logistic support services.

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Md. Masudul Hassan
CEO & Chairman of this Portal. Md. Masudul Hassan is an Assistant Professor and Coordinator of a Reputed University in Bangladesh. Member of Agrilinks is part of the U.S. Government's Feed the Future initiative. He Performed Numerous Research Regarding Agribusiness.