Oil seeds and oleaginous fruits market in Bangladesh

Earlier Report Observations

The market for oil seeds and oleaginous fruits in Bangladesh reached 2 640 metric tons in 2018, supported by a government program that distributed free seeds and fertilizers to boost mustard cultivation. However, the market declined to 1 823 metric tons by 2020 due to a shortage of high-yielding varieties and quality seeds for key crops, compounded by COVID-19 disruptions to logistics and labor supply during harvest.

Market volume recovered to 2 143 metric tons in 2021 and then grew sharply to 4 620 metric tons in 2023. Amendments to the energy law simplified customs procedures and price adjustments, improving market access conditions. The Russia-Ukraine war triggered a spike in global oil prices, raising import costs and stimulating domestic production. Increased per capita edible oil consumption and record mustard harvests further strengthened demand and supply.

In 2024, consolidation in the processing sector reduced the number of edible oil refining companies to 11, lowering competition. Global price volatility and the ongoing effects of the war led to frequent adjustments in import prices, prompting the regulator to reintroduce consumer protection rules. The government launched a seed improvement program to address soybean seed quality issues.

Production oil seeds and oleaginous fruits in Bangladesh

In kind, 2017-2020, t

Top producers of oil seeds and oleaginous fruits, 2017-2020

World map of production of oil seeds and oleaginous fruits, 2017-2020

Bangladesh's production of oil seeds and oleaginous fruits has declined for the second year in a row. In 2019, the country produced a certain amount, but by 2020, output had dropped to 1,448 tonnes, representing a 26.7% decrease from the previous year. Looking at the period from 2017 to 2020, overall production fell by 24.3%, which translates to an average annual decline of 8.9%. The peak production was recorded in 2018 at 2,531 tonnes, which also marked the largest year-on-year increase of 32.3%.

Annual dynamics of production in Bangladesh in kind, 2017-2020, t

Exports oil seeds and oleaginous fruits from Bangladesh

Exports in kind, t

In 2020, Bangladesh exported 53.4 tonnes of oil seeds and oleaginous fruits, showing a sharp rise of 1,012.6% compared to the previous year.

Annual dynamics of product's exports from Bangladesh in kind, 2017-2020, t

From 2017 to 2020, India, Italy, and the United States were the main markets for Bangladesh's exports of oil seeds and oleaginous fruits in kind. India accounted for 55.0% of exports, Italy for 18.3%, and the United States for 7.2%. Together, these three countries represented 80.5% of total export flows during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Bangladesh in kind, 2017-2020

Exports in value, K $ US

In 2020, the value of Bangladesh's oil seeds and oleaginous fruits exports totaled 115,000 US dollars, marking an abrupt gain of 428.7% year-over-year.

Annual dynamics of product's exports from Bangladesh in value, 2017-2020, K $ US

Throughout 2017 to 2020, the United States, Italy, and India formed the core of Bangladesh's exports in value terms. The United States accounted for 42.7% of export value, Italy for 27.2%, and India for 16.2%. Collectively, these three destinations took 86.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Bangladesh in value, 2017-2020

Imports oil seeds and oleaginous fruits to Bangladesh

Imports in kind, t

Foreign supplies of oil seeds and oleaginous fruits to Bangladesh have increased for the third consecutive year. In 2020, Bangladesh imported approximately 428.2 tonnes, which is 107.2% higher than the previous year. Over the period from 2017 to 2020, imports surged by 6,260.6%, with a compound annual growth rate of 299.2%.

Annual dynamics of product's imports to Bangladesh in kind, 2017-2020, t

From 2017 to 2020, Egypt, India, and the United Arab Emirates were the principal sources for Bangladesh's imports of oil seeds and oleaginous fruits in kind. Egypt accounted for 57.6% of imports, India for 22.2%, and the United Arab Emirates for 7.0%. Together, these three countries jointly accounted for 86.7% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Bangladesh in kind, 2017-2020

Imports in value, K $ US

The volume of oil seeds and oleaginous fruits imports into Bangladesh has increased for the third year in a row. In 2020, the import value stood at 2,793,000 US dollars, which is 555.8% higher compared to the previous year. Over the period from 2017 to 2020, imports skyrocketed by 78,698.9%, with a compound annual growth rate of 823.6%.

Annual dynamics of product's imports to Bangladesh in value, 2017-2020, K $ US

In the period from 2017 to 2020, Thailand and Egypt dominated Bangladesh's imports of oil seeds and oleaginous fruits in value terms, together accounting for 91.3% of total flows. Other destinations had smaller individual contributions during this time.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Bangladesh in value, 2017-2020