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Veterinary Industry in Bangladesh: Present Status and Future Potentials

Biplab Kumar Sen
Group Product Manager
AgroVet Division, Square Pharmaceuticals Ltd. Dhaka, Bangladesh.

Abstract/ Executive Summary:

Livestock resources constitute an integral part of agriculture– the mainstay of the country’s economy. Livestock production is subject to the risk of disease, accident and death often causing decline in farm production ultimately leading to a threat to the country’s food security system. Veterinary industry entails huge potentials for agri-sector to grow more by supplying health care products to the people of Bangladesh. Review of the existing literature explores that hardly any study was conducted on the veterinary industry of Bangladesh especially highlighting its economic aspects. The study was a modest attempt to bring this industry to the light of organized academic discussion and expose it to a broader view for policy makers to facilitate integrated agriculture policy. The study explores the present status of this industry, the constraints encountered in this industry and finally what potentials await thereof in the time to come. The study revealed that both local manufacturers and traders (mainly import based and foreign MNCs working in Bangladesh), feed manufacturers, hatchery & farm owners constitute this industry and annual turnover of this industry is about BDT thirty thousand crores of which medicine & feed additives/supplements market is more than BDT one thousand crores. Still the market is expected to be growing as with the rise in livestock and fisheries sector in this country. Major constraints and challenges have also been analyzed allowing investors, academics and policy makers to know the potentials of this industry in its true lights.

Keywords: Livestock, Veterinary industry, Poultry

Location:

Start Date:

End Date:

Program Area: Socio-economic and Policy

Non-commodity: Trend analysis

Objectives:

The principal objective of this paper is to explore the overall scenario of veterinary industry of Bangladesh in a brief version with special emphasis on the economic aspects thereof. This paper was designed to achieve the following specific objectives in mind to match the principal objective stated above and these are: 1. To explore the present status of the veterinary industry in Bangladesh. 2. To explore the contribution of veterinary industry to the economy of Bangladesh. 3. To explore the problem or constraints of the veterinary industry in Bangladesh. 4. To explore the future potential of the veterinary industry in Bangladesh.

Methodology:

This paper is a descriptive study on the veterinary industry of Bangladesh with the accommodation of relevant data collected from different sources. Both primary and secondary sources of data were used to construct the body of this paper. For the purpose of this study, primary data had been collected through the interview of twenty officials/employees of ten purposively selected veterinary medicine manufacturers and traders located in Dhaka. Relevant information had also been collected from Industry experts and practitioners by means of personal interview to enrich this paper. Veterinary industry of Bangladesh comprises approximately 12-15 small and large manufacturers along with lot of traders at home and abroad. Relevant data so collected was presented in the statistically supportive form to aid the analysis of the study. Secondary data, on the other hand, was collected from the relevant sources that include different journals, books, articles and directories.

Source of Information: D.U. Journal of Marketing, Vol. No. 15, June 2012

Article Link (Online Journal): http://www.dumarketing.ac.bd/html5boilerplatemkt/uploads/2013/11/18Veterinary-industry-in-bangladesh-present-status-and-future-potentials.pdf

Funding Source:

1.

Budget:

Total Budget (Tk.) :

Achievement/Findings:

About 1,000 fish and shrimp hatcheries are being setup through private initiatives. The Government's strategy is to harness the full potentials of this sub-sector by creating an enabling environment, opening up opportunities, and reducing risk and vulnerability. The Government budgetary provision for the livestock sub-sector will be increased to ensure significant development in this sub-sector, and increased provision of trained manpower will be linked to expand nationwide outfit of DLS. Livestock production is subject to the risk of disease, accident and death. The frequent outbreak of Bird flu in the poultry sector of Bangladesh is the vivid example for the same. Farmers face consequent losses of investment and future income. They are incapable of mitigating such risk through institutional means due to insufficient public institutional support and financial resources. The result is often serious decline in farm income and consequent failure on the part of the poor farmers to maintain their livelihoods. Veterinary industry can be a viable safeguard to protect the interest of the farmers of Bangladesh by minimizing the loss of mortality of livestock and fisheries to a great extent which not only ensure a strong foothold to the farmers but also will make healthy contribution to the country's food security program. The demand for basic food in this country will increase in the coming days as with the rise in population, agricultural production shall have to be expanded to support the augmented population. In view of this reality, veterinary industry in Bangladesh is expected to be flourishing as the preemptive force to defend the country's food domain with due attention by both the public and private sectors.

Knowledge Management: Journal