Bangladesh intends to aggressively pursue soybean oil and meal production

Oil and fats market players in Bangladesh are moving to start building soybean processing plants, insiders said on Monday.

This will reduce their import dependence on oil and allow them to supply raw material to their own processing plants.

These new facilities will also produce soybean meal, an ingredient in animal feed, which will help meet 70-80 percent of local demand for soybean meal, they added.

According to insiders, two of the country’s largest consumer manufacturers, Meghna and City Group, have already expanded their operations to include soybean processing.

Two other industrial giants, Basundhara and Delta Group, are also investing in soybean processing plants. This will further increase the country’s capacity to produce edible oil and soybean meal.

Some smaller companies like Globe Industries in Narayanganj and Jamuna Edible Oil Industries Limited in Rajshahi are also participating in the local soybean oil chain.

In the past, vegetable oil producers in Bangladesh were completely dependent on imports. With the new plants, they can now produce their own edible oil.

Tags: Bangladesh, soybean oil, soybean, soybean meal