Sunflower, safflower or cottonseed oil and fractions market in Bangladesh

Earlier Report Observations

From 2018 to 2020, the market volume for sunflower, safflower, and cottonseed oils in Bangladesh fluctuated significantly. High labor costs and inefficiencies in domestic oilseed harvesting, due to manual methods, kept local production low and reinforced import dependence. This led to a market contraction in 2019 as production fell sharply, despite growing imports. The market then expanded in 2020, driven by a surge in imports.

The Russia-Ukraine war from 2022 onward disrupted global sunflower oil supplies, directly impacting Bangladesh's import chain and contributing to a market decline that year as players shifted to alternatives like soybean oil. Concurrently, a noted drop in cottonseed oil consumption in 2021 further reduced overall market volume. To counter import reliance, government and NGO initiatives promoted sunflower cultivation in saline coastal areas, providing salt-tolerant seeds and support, which helped stabilize and slightly increase domestic production by 2023.

Market structure evolved with the entry of new fortified and organic sunflower oil products, such as East Coast Group's vitamin-enriched launch in 2024, responding to health-conscious consumer trends. Mergers among major edible oil companies strengthened market positions, while high inflation and currency depreciation continued to challenge import costs and pricing stability through 2024.

Production sunflower, safflower or cottonseed oil and fractions in Bangladesh

In kind, 2017-2020, t

Top producers of sunflower, safflower or cottonseed oil and fractions, 2017-2020

World map of production of sunflower, safflower or cottonseed oil and fractions, 2017-2020

In Bangladesh, the production of sunflower, safflower, or cottonseed oil and fractions has declined for the second year in a row. In 2020, the country produced 7 218 tonnes, marking a modest 4.8% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 37.5%, with an average annual decline of 14.5%. The highest output was recorded in 2018 at 12 029 tonnes, which saw a 4.2% increase. However, the most significant drop occurred in 2019, with a sharp 37.0% reduction.

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

Exports sunflower, safflower or cottonseed oil and fractions from Bangladesh

Exports in kind, t

The export market for sunflower, safflower, or cottonseed oil and fractions from Bangladesh displayed notable volatility during the observed period. Exports reached their lowest point in 2017 and peaked in 2020, with a staggering 1 016-fold difference between these years. In 2020, exports amounted to 110 tonnes, reflecting a dramatic 402.5% surge from the year before. The largest increase was recorded in 2018 at 39 079.6%, while the most significant decline occurred in 2019, dropping by 48.4%.

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

From 2017 to 2020, the United Arab Emirates, Italy, and Turkey remained the top buyers of sunflower, safflower, or cottonseed oil and fractions from Bangladesh. The United Arab Emirates accounted for 63.0% of exports in kind, Italy for 14.2%, and Turkey for 12.6%. Together, these three countries represented 89.8% of Bangladesh's total exports in this category.

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

The export market in value terms showed considerable volatility over the observed period. Exports hit their lowest point in 2017 and reached a peak in 2020, with a 92-fold gap between these years. In 2020, the value of exports totaled 102 thousand US dollars, up by 268.9% from the previous year. The largest increase was recorded in 2018 at 4 416.0%, while the most significant decline occurred in 2019, falling by 44.6%.

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

Between 2017 and 2020, the United Arab Emirates, Italy, and Turkey were the primary destinations for Bangladesh's exports of sunflower, safflower, or cottonseed oil and fractions in value terms. The United Arab Emirates made up 55.6% of exports, Italy 17.0%, and Turkey 15.3%. Collectively, these three markets accounted for 87.9% 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 sunflower, safflower or cottonseed oil and fractions to Bangladesh

Imports in kind, t

The import market in kind exhibited volatility during the observed period. Imports were at their lowest in 2018 and highest in 2020, with a 3.4-fold difference. In 2020, Bangladesh imported 2 850 tonnes, representing a 64.1% increase year-over-year. The largest decline was recorded in 2018 at 49.6%, while the most significant increase occurred in 2019, rising by 108.2%.

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

From 2017 to 2020, Ukraine, Italy, and Turkey consistently led as the main sources for Bangladesh's imports of sunflower, safflower, or cottonseed oil and fractions in kind. Ukraine contributed 30.2% of imports, Italy 17.7%, and Turkey 15.4%. Together, these three countries accounted for 63.3% 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

Bangladesh's imports of sunflower, safflower, or cottonseed oil and fractions in value terms increased for the second consecutive year. In 2020, import value reached 10 121 thousand US dollars, marking a steep 48.7% rise from 2019. Over the period from 2017 to 2020, imports grew by 13.4%, with an average annual increase of 4.3%. The lowest value was recorded in 2018 at 4 688 thousand US dollars, which saw a 47.5% decline, the largest drop during this time.

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

During 2017–2020, Ukraine, Italy, and Malaysia emerged as the key markets for Bangladesh's imports of sunflower, safflower, or cottonseed oil and fractions in value terms. Ukraine accounted for 28.5% of imports, Italy for 22.0%, and Malaysia for 14.0%. In total, these three countries represented 64.5% of import flows.

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

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