Bangladesh: Oilseeds and Products Annual
In marketing year (MY) 2019/20 (July to June), soybean area and production are forecast to increase to 82,000 hectares (HA) and 158,000 metric tons (MT) assuming favorable weather conditions. MY 2019/20 soybean imports are expected to rise to 1.35 million MT as a result of high soymeal demand to meet feed requirements for the livestock and fisheries sectors, and soybean oil for human consumption. Soymeal production and imports in MY 2019/20 (July to June) are forecast to increase to 1.09 MMT and 600,000 MT respectively, assuming continued demand in the feed industry. For MY 2019/20, Post’s edible oil imports forecast is raised to 2.8 MMT assuming continuing population increase, changing consumer behavior to dining out, increasing urbanization, and an increase in bakery and processed food production. Meeting the protein demand of an increased population with changing consumption patterns is the key driving force behind livestock and fisheries development. As well, oilseed demand is increasing as a result of the booming poultry sector, as it is rapidly developing with a target of becoming an exporting country by 2024.
