Bangladesh: Agriculture Insurance Situation Analysis

Agriculture is key in Bangladesh but highly exposed to risks. Agriculture is a source of employment and livelihood for nearly 1 in 2 adults in Bangladesh and contributes about 16% to GDP. Contribution to agricultural GDP comes mainly from crop production (63%) but also from fisheries (23%), as well as livestock and poultry (14%). There are about 15 million farm households in Bangladesh and a further 13 million landless households who work as sharecroppers or farm labourers and the most important staple food crop grown is paddy (rice). While Bangladesh has made major progress post-independence in agriculture, it still faces major challenges of maintaining food security due to its high population growth rate and major exposure to natural disasters and climate change.

Bangladesh is one of the world’s most exposed countries to natural disasters, including floods, cyclones, and drought which have large impact in agriculture. For instance, Cyclone Sidr of 2007, destroyed 0.69 million hectares of cultivated crop lands and killed over 460,000 head of livestock and poultry.

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