Fertilizer Market Research in Bangladesh: A Case Study on NPKS Fertilizer.
- March 26, 2019
- Posted by: Sujon Ahamed
- Category: Market Research
An International Trading Company
22nd November 2018 to 26th March 2019
The objective of the project was to carry out a detailed market research on the fertilizer market of Bangladesh. An especial emphasis was given to NPKS (Nitrogen-phosphorus-potassium-sulfur) compound fertilizer.
- What is the current market size of fertilizer in Bangladesh?
- What is the demand of specific fertilizers, areas of harvesting, and main crops in Bangladesh?
- How government support (Subsidy, registration for production, import, and sales) this sector?
- What is the distribution system (From producer/importer to farmer) of fertilizer?
- What are the competitive situations among importers, producers, dealers, and retailers?
Respondents for the Market Research
- Farmers (50)
- Retailer (53)
- Dealer (53)
- Government Official (28)
- Manufacturer (16)
- Importer (14)
- A. Review of government publications, trade, and industry journals.
- B. Exploring preliminary ideas about useage of fertilizer (NPKS) and selection of primary areas where fertilizers are used most.
- D. Respondent maping for the Study.
- E. Prepared survey tools.
Both Primary and Secondary research tools are used in this phase.
- For primary research: Face to face interview was conducted with farmers, retailers, dealers, government officials, importers, manufacturers, and industry stakeholders.
- For secondary research: Government publications, rules and guidelines, government gazettes, and other official documents were thoroughly examined. Import data for fertilizer were also analyzed to understand the supply chain and identify the key market players.
- Forecasting: Straight line forecasting method has been used throughout the study. In this method, we have not taken the growth rate as constant. We have calibrated the growth rate throughout different years depending on the economic condition, agriculture system, demand for agricultural foods.
- A. The primary analysis of the survey was shared with the client to get feedback.
- B. The analysis was harmonized with the client’s feedback.
- C. Based on the client’s accord final report was submitted.
Result of the Study:
From the market research, the consultants have identified that there are several challenges in producing as well as marketing and distribution of NPKS fertilizer in Bangladesh. Based on the research ins and outs of the NPKS fertilizer market have been reported to the client.
From the study, it has been identified that currently, the government is not prioritizing NPKS fertilizer due to the practice of adulteration by the manufacturers. Without government support, it is also difficult to reestablish the market. So, the government should prioritize this fertilizer as its very impactful for our agriculture sector.
Currently, the client is deliberating with our proposed strategic options and planning out to enter the sector with appropriate agriculturer development programs.