Industry Overviewe:

Bangladesh is a country of about 170 million people and annually consumes about 3.4 million tons of oils and fats, Bangladesh imported 27.73 lakh tones of edible oil, fats, and oil seed worth $2.12 billion in fiscal 2019-20. The average per capita consumption of oils and fats is seen approaching 18.7 kgs. About 90 to 92 percent of the annual requirements of oils and fats are met through import. Presently there are three major edible oils consumed in the country, namely, palm oil, soybean oil, and rapeseed/canola oil, and import shares of which were at a ratio of 58:37:5 respectively, as per 2019 statistics. The country's domestic market for edible oil has grown at an average of between 7 and 12 per cent annually for the past two decades.

Indonesia is the major supplier of palm oil in Bangladesh followed by Malaysia. Argentina and Brazil are the major suppliers of CDSBO, while USA is the major supplier of Soybean in Bangladesh followed by Argentina and Brazil. On the other hand The Bangladesh Mustard Oil Market is growing at a CAGR of 5.61% over the next 5 years.