A socioeconomic study of soybean production in Bangladesh

Abstract

This study was undertaken to estimate the financial profitability and to assess the factors affecting adoption of soybean production in Noakhali and Lakshmipur districts of Bangladesh. To collect primary data, a structured interview schedule was used to interview 90 farmers using stratified random sampling technique. A combination of descriptive, mathematical and statistical techniques were employed to analyze the data. According to the findings, 47 percent of farmers were small in farm size category. Financial profitability analysis shows that soybean production was profitable with benefit cost ratio (1.43). The logit regression model demonstrated that farmers’ education, farm size, farm income, extension contact, crop diversification practiced, and distance to market had a significant effect on farmers' decision to pursue soybean cultivation.The research findings also indicated that higher price of seed and fertilizer, low price of output and lack of transportation facilities were the major problems for input, production and marketing of soybean, respectively. Among all the problems, high price of seed and fertilizer had the highest problem confrontation index value (255) as first rank. The study recommended for ensuring affordable price of seed and fertilizers along with better infrastructure and transportation facilities to overcome the problems. Furthermore, government needs to implement subsidy scheme and assistance should be provided from the personnel of Department of Agricultural Extension to enhance soybean production in Bangladesh. Bangladesh J. Agril. Res. 48(3): 293-305, September 2023