The North Star: Burgeoning Aquaculture Market in North Bengal

LightCastle Analytics Wing
December 1, 2020
The North Star: Burgeoning Aquaculture Market in North Bengal

Over the last few decades, Bangladesh has witnessed remarkable economic growth spearheaded by strong private sector consumption, steady export market growth and increased flow of remittance. Household disposable income has surged in tandem with GDP growth which enabled people to upgrade their standard of living and consume more products and services in their day to day lives. In the coming years, this group will purchase more protein to maintain an improved diet and thus drive demand higher. Simultaneously, due to inequitable economic growth, a significant portion of the population are living in poverty and fish is one of the main sources of protein for them due to its lower price. 

While the fisheries sector contributed 3.57% to the national GDP and employed 11% of the country’s total population, the prominence of the fisheries sector in the economy were in threat due to the Covid-19 pandemic. 

Like all agricultural supply chains, the fisheries sector in Bangladesh, too, has seen severe disruptions in the supply chain due to bottlenecks in transportation, trade, and labor. Reduction in household incomes due to the impact from Covid-19 lockdowns has had a knock-on effect on demand for fish effecting the volume of sales and the price of fish. 

Despite the short-term suffering, can the fish farmers take advantage of recovered stocks post-COVID-19? Over 143 supply chain actors and 30 aquaculture LSPs in the northwest Bangladesh have been reached out to understand the current aquaculture culture market in Bangladesh. Presenting “The North Star: Burgeoning Aquaculture Market in North Bengal”

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WRITTEN BY: LightCastle Analytics Wing

LightCastle Analytics Wing is the research division of LightCastle Partners. It is tasked with producing periodic reports on the different sectors of the economy, analyzing trends in markets and making methodical, thorough and intelligent analysis to improve strategy and drive business growth.

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