Bangladesh: Oil Crops Market 2024

Oil Crops Market Size in Bangladesh

After three years of growth, the Bangladeshi oil crops market decreased by X% to $X in 2022. Over the period under review, consumption saw a prominent expansion. Over the period under review, the market attained the peak level at $X in 2021, and then contracted in the following year.

Oil Crops Production in Bangladesh

In value terms, oil crops production stood at $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

The average yield of oil crops (primary) in Bangladesh expanded modestly to X tons per ha in 2022, rising by X% compared with 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of X%. The oil crops yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of oil crops (primary) were harvested in Bangladesh; declining by X% against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the harvested area increased by X% against the previous year. The oil crops harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Oil Crops Exports

Exports from Bangladesh

After two years of growth, overseas shipments of oil crops (primary) decreased by X% to X tons in 2022. In general, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, oil crops exports expanded sharply to $X in 2022. Overall, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the main destinations of oil crops exports from Bangladesh, together comprising X% of total exports. Malaysia, Japan and Vietnam lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Vietnam ($X) appeared to be the largest markets for oil crops exported from Bangladesh worldwide, together accounting for X% of total exports. Japan, Malaysia and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oil crops export price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Afghanistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Bangladesh

In 2022, approx. X tons of oil crops (primary) were imported into Bangladesh; remaining stable against 2021. Overall, imports recorded strong growth. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, oil crops imports fell to $X in 2022. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Brazil (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of oil crops imports to Bangladesh, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil crops suppliers to Bangladesh were Brazil ($X), the United States ($X) and Australia ($X), with a combined X% share of total imports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Paraguay ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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