Startup Agrobusiness

Agrobusiness is a combination of the words ‘agriculture’ and ‘business’ and refers to any business related farming and farming-related commercial activities. Agrobusiness involves all the steps required to send an agricultural good to market, namely production, processing, and distribution. Although agriculture remains the third most contributing sector to the country’s GDP, its contribution has decreased over the past decade going from 17% in 2010-11 to 12.15% in 2020-21. But now the agricultural sector is getting industrialized and the industry is also a significant contributor to export earnings and provider of raw material sources for other sectors, such as poultry and livestock feed, leather, frozen food, canned food etc. Agrobusiness can be divided into three broad categories and they are as follows; At first, the productive resources like feed, fertilizer, energy, machinery etc. Secondly, the agricultural commodities like raw and processed commodities of food and fiber. Thirdly, the facilitative services like credit, insurance, transportation, packing etc. Agriculture was a family business not too long ago. Now a days, automation, scientific advances and better transportation have allowed for industrialization of this ancient occupation. Department of Agricultural Extension under the Ministry of Agriculture plays a major role in maintaining the agrobusiness in Bangladesh.