In the context of a severe economic crisis manifesting itself through peak inflation and an energy crisis, the world is facing a growing challenge of food shortages. We face the genuine threat of mass famine and famine. The Covid-19 pandemic has disrupted economic activities and the supply chain, resulting in the loss of jobs and income resources. As a result, intake decreased at the household level, in low-income families.
In the wake of the pandemic, the Russian-Ukrainian war broke out, worsening the global economic situation. Ukraine, a vital source of the world’s food supply, was once called the breadbasket of the world because several countries depended on the country for wheat. But Ukraine’s food exports have plummeted since the Russian invasion. As a result, countries have had to import food from elsewhere, which have higher shipping and logistics prices, as well as delivery times, leading to skyrocketing food prices. The world, while the threat of turning climate occasions due to climate substitution has also intensified. As a result, the world is now heading towards an unprecedented food crisis. The Food and Agriculture Organization of the United Nations (FAO) has forecast that world agriculture and food production will shrink through 1. 4 percent in line with percent.
In the event of a food crisis, countries take refuge in protectionism. This has been observed recently when some countries have banned exports of their food products. The spirit of global cooperation is lost in the urgency of saving its own people. Multilateral trade formulas were also diluted in such a crisis.
The expansion of agriculture in Bangladesh since independence has been significant. Growth in cereal yield and production has helped the country become self-sufficient. Access to food has also increased on average, despite a developing population and smaller area. Dietary diversity, which includes protein and vegetables, the nutritional prestige of the Bangladeshi population has increased and stunting, underweight and wasting have decreased. Chronic malnutrition, measured by degrees of stunting, rose from 42% in 2013 to 28% in 2019. The availability of food has increased due to the green revolution that the country has experienced in the decade. Government policies for the agricultural sector have helped bring about such a revolution. Therefore, Bangladesh can avoid hunger and famine.
However, FAO’s projection is alarming for Bangladesh. According to FAO, Bangladesh is among the forty-five countries that will face a food crisis. Therefore, a strong and inclusive food formula must be built. During the pandemic, agricultural production and source formulas in many countries have been affected. But farmers in Bangladesh were able to make a smart rice harvest. Some measures are urgently needed to deal with the looming crisis in such circumstances.
First, with better fuel and fertilizer values, farmers now struggle to grow food; so it deserves that there are subsidies for food production. The government deserves to make sure small farmers get those subsidies. During the pandemic, the government gave 5,000 Tk each to farmers, but many did not get it due to mandatory paperwork with banks. Now, with rising production costs, farmers will want to be sure of a fair purchase value for their produce. Without higher values, farmers will not be encouraged to produce food, further worsening food availability. In Bangladesh, cultivation is basically done with power tillers and tractors, which run on diesel. Since the government has raised the value of fuel to an all-time high, which is hitting all sectors of the population hard, it deserves to subsidize diesel so that farmers can grow and maintain the mandatory food inventory in the country. In the case of fertilizers, not only is it worthwhile, but also availability is a fear for farmers. The government will have to make fertilizers available at affordable prices to them.
Secondly, it is a clever sign that the Prime Minister has asked to be consistent with food production and not to leave an inch of land fallow. Our legislators are understandably concerned. Greater crop availability will require a steady increase with productivity. Although agricultural yields consistent with acres in Bangladesh have increased over time, it is still lower than in many food-producing countries. Technological inventions are needed for the productivity and sustainability of the agricultural sector. Our scientists have invented several types of rice, adding those that tolerate water. They can also find cutting-edge tactics to increase yield and use land more productively.
Thirdly, even if there is more production, the amenities of garages are insufficient in the country, so food cannot be stored for a long time. Therefore, the government deserves to build more garages and stock up on farmers at a fair price, so that their production prices are well covered and they can have a profit margin. Without smart pricing, farmers are discouraged for the upcoming season, fueling the food crisis. It’s a vicious circle.
Fourth, while everyone is now looking for food, Bangladeshi policymakers will also need to prepare immediately for importing the food needed to have a buffer. The market should not be controlled by a small number of food importers. who then control the price. It is not an unusual phenomenon that during a crisis, only a small number of players take the opportunity to mint cash at the expense of the struggle of ordinary people in an inflated market.
Fifth, poor and low-income families will need to be helped in this critical period. The right nutrition deserves to be available on the open market at affordable prices. Other vulnerable people want direct cash assistance so they can buy food and not go hungry.
Finally, adequate policies and strong food supply, marketing and distribution facilities are needed to ensure food security. Broader reforms are required in the case of land, prices, subsidies, and fiscal policies to have a fashionable agricultural sector. Therefore, fighting food and lack of confidence and avoiding hunger and famine requires not only smart agricultural policies, but also smart macroeconomic and sectoral policies.