Bangladesh: Plan to meet 40% edible oil demand locally
Bangladesh
Published May 26, 2022
Tridge summary
The government has prepared a draft roadmap to raise local edible oil production by nearly 200 per cent within the fiscal year (FY) 2024-25, which could meet minimum 40 per cent of the country's total demand, officials said. The Ministry of Agriculture (MoA) has readied the draft roadmap recently as part of a move to overcome any edible oil supply shortage through local sources by enhancing oil seed acreage to 2.4 million hectares from the present 0.82 million hectares, said a senior official.
Original content
MoA Additional Secretary Balai Krishna Hazra has said the draft is going to be tabled within one or two days to finalise the roadmap. He has noted that currently the country produces 1.2 million tonnes of oil seeds, of which mustard comprises more than 60 per cent. The roadmap has a short-term strategy of three years to raise local availability to 40 per cent of the demand between FY 23 and FY 25. It also has long-term target to plant 10 million coconut trees in the coastal region to boost coconut oil production there. According to the MoA, and the Ministry of Commerce, a total of 0.3 million tonnes of cooking oil, including mustard, sesame, coconut, etc, is extracted from seeds locally, which meets only 12.5-13 per cent of the total demand of 2.4-2.5 million tonnes. The rest of the requirement is met through imports of soybean oil, palm oil, sunflower oil, and other vegetable oils. However, mustard oil has got the utmost priority in the draft roadmap, as 98 per cent of the ...
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