Despite higher profitability from high-value crops like fruits, vegetables, and flowers, 55% of Bangladeshi farmers cultivate only rice due to lower market risks and food security concerns. According to an IFPRI study, crops with low output value per unit, such as rice, offer limited income growth compared to high-value alternatives. However, farmers hesitate to shift due to price fluctuations, thin domestic markets, and lack of risk mitigation measures. Non-rice crops face sharp price declines with increased supply, discouraging investment. Contract farming could help stabilize prices and protect farmers, while government policies like price stabilization, market linkages, and incentives could encourage diversification. High-value crops generate more revenue per hectare and could boost rural development and agricultural growth. Yet, farmers prioritize staple production to cover costs and ensure food security. Strengthening value chains for high-value crops can enhance farm incomes and improve overall economic growth.
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