The IMPACT OF COVID-19: Agriculture digest by Innovision highlights a looming threat to food security in Bangladesh, with farm income plummeting by 58% in April 2020. This drastic impact led 57% of farmers to consider discontinuing cultivation as total household income fell by 61%. Critical disruptions included a 79% failure in transportation and a 75% crash in crop prices, leaving 44% of farmers in debt to input sellers. Consequently, 70% of households slashed protein consumption to cope with the economic shock.
Innovision identifies a major credit gap, as 76% of farmers rely on micro-credits while only 9% access government banks, rendering standard stimulus packages ineffective. We recommend a national strategy involving digital harvesting maps to coordinate distribution and direct crop buy-outs to prevent deep poverty. By removing road tolls and targeting input retailers for financial aid, the government can stabilize the supply chain. Innovision advocates for seasonal MFI loans and subsidized inputs to ensure the next cropping cycle remains viable, protecting both rural livelihoods and national food stability.
Read the full report here: Link
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