LightCastle Partners has recently signed a contract with World Fish Bangladesh for conducting a detailed study on the fish and fish-based products of Bangladesh to better understand market systems and consumer dynamics in the fisheries sector. Dr. Malcom Dickson, Country Director of World Fish Bangladesh and Zahedul Amin, Director, Strategy and Consulting were present during the contract signing session.
LightCastle will undertake thorough value chain analysis and market system assessment by engaging groups of key actors and stakeholders in order to provide insights on the growth prospects of the aquaculture market in Bangladesh, its export potential, assessment of the market preferences for various types of fish and fish-based products as well as the access and demand of embedded technical services.
An annual production of nearly 20 lakh tonnes of cultured fish makes Bangladesh the world’s fifth largest producer of inland aquaculture (FAO), and the sector contributes over 23 percent of the country’s agricultural GDP. With a specific focus on the Rajshahi and Rangpur divisions in northwest Bangladesh as well as parts of Dhaka, LightCastle will undertake a mixed-methods approach, applying both quantitative and qualitative research tools to pinpoint consumer trends and preferences, conduct product and customer segmentation, analyse the competitive and economic environment, as well as explore more subtle gender imbalances in the fisheries sector of Bangladesh.
The outcome of the project will be to effectively guide World Fish and the Bill and Melinda Gates Foundation in the strategic design and intervention planning under the “Aquaculture: increasing income, diversifying diets, and empowering women in Bangladesh and Nigeria” project, and ultimately contribute to the project objective of strengthening sustainable growth of the aquaculture sector to help enhance the income of smallholder families, improve the diets and nutrition of vulnerable women and children and empower women in Bangladesh.