Market research

Soybean oilcake market in Bangladesh

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

Between 2018 and 2020, the soybean oilcake market in Bangladesh grew from 1.3 million tons to 1.9 million tons. This expansion was supported by the entry of large private conglomerates like City Group and Meghna Group, which significantly increased their daily soybean crushing capacities to 7,000 and 5,500 metric tons respectively by 2020. Simultaneously, soybean seed imports surged by about 92%, providing the raw material needed for higher oil and cake production.

After a contraction to 1.8 million tons in 2021, the market rebounded sharply to reach 2.2 million tons in 2022. A key driver was the government's decision in March 2022 to remove the 15% VAT on oil refining, the 15% VAT on imports, and the 5% VAT on retail sales of edible oils. This policy change reduced costs across the supply chain and stimulated market activity during the year.

The market volume declined to 1.9 million tons in 2023. This decrease coincided with a 27.9% drop in the market value of soybean oil, ending a three-year rising trend. Broader economic challenges, including high inflation and currency depreciation, increased operational costs for crushers, leading to a significant reduction in domestic production despite continued imports of soybean meal.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Bangladesh
  1. 5.1.1. Annual dynamics of production in Bangladesh in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Bangladesh in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Bangladesh in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Bangladesh by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Bangladesh in value, 2018-2024, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Bangladesh by countries, 2018-2024, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Bangladesh, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Bangladesh by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Bangladesh in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Bangladesh by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Bangladesh in value, 2018-2024, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Bangladesh by countries, 2018-2024, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Bangladesh, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Bangladesh by countries, 2018-2024, $ US/t
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Bangladesh in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Bangladesh by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Bangladesh in value, 2018-2024, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Bangladesh by countries, 2018-2024, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Bangladesh, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Bangladesh by countries, 2018-2024, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Bangladesh in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Bangladesh by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Bangladesh in value, 2018-2024, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Bangladesh by countries, 2018-2024, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Bangladesh, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Bangladesh by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production soybean oilcake in Bangladesh

In kind, 2017-2020, K t

Bangladesh was among the world's leading producers of soybean oilcake from 2017 to 2020, ranking 19th globally by production volume.

Top producers of soybean oilcake, 2017-2020

Source: SHEV.io

World map of production of soybean oilcake, 2017-2020

Source: SHEV.io

Soybean oilcake production in Bangladesh increased for the third consecutive year. In 2020, the country produced 1 773 thousand tonnes, marking a dramatic rise of 41.1% compared to the previous year. Between 2017 and 2020, production grew by 123.7%, which translates to an annualized growth rate of 30.8%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	23.0%	28.9%	41.1%	30.8%

Source: SHEV.io

Exports soybean oilcake from Bangladesh

Exports in kind, K t

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

From 2017 to 2020, Nepal dominated the partner structure of exports in kind, consistently accounting for 91.3% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, M $ US

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	n/a	-

Source: SHEV.io

Between 2017 and 2020, Nepal effectively monopolized exports in value terms of soybean oilcake from Bangladesh, taking 91.2% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports soybean oilcake to Bangladesh

Imports in kind, K t

The market showed signs of volatility during the observed period. Import levels fluctuated significantly, with a 4.4-fold difference between the low in 2020 and the high in 2017. In 2020, Bangladesh imported 144.1 thousand tonnes of soybean oilcake, down by 73.7% year-on-year. The largest increase occurred in 2019, at 66.0%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(48.3%)	66.0%	(73.7%)	(39.1%)

Source: SHEV.io

From 2017 to 2020, the three largest markets—India, Argentina, and the United States—remained central to imports in kind, together accounting for 89.1% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, M $ US

Volatility characterized the market behavior during these years. Imports peaked in 2017 and fell to their lowest point in 2020, with a 4.4-fold gap between these years. In 2020, soybean oilcake imports to Bangladesh amounted to 62.1 million US dollars, reflecting a dramatic decline of 67.4% year-on-year. The largest increase was recorded in 2019, at 9.4%.

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

Parameter		2018	2019	2020	CAGR
1	Change from last year	(36.3%)	9.4%	(67.4%)	(39.0%)

Source: SHEV.io

Between 2017 and 2020, India (50.0% of imports in value terms), Argentina (25.6% of imports in value terms), and the United States (13.4% of imports in value terms) continued to lead the list of suppliers of soybean oilcake to Bangladesh, jointly accounting for 89.0% of total imports in value terms.

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

Source: SHEV.io

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

Source: SHEV.io