Govt mulling to meet 40% edible oil demand locally: Razzaque

With the countrymen still reeling from the hike in prices of daily essentials, especially oil, the government has a relieving information: it wants to meet at least 40 percent demand of edible oil locally.

Disclosing the matter on Sunday, Agriculture Minister Dr M Abdur Razzaque said they are implementing an action plan regarding this as local oil production now hovers only 2 lakh tonnes  against 20 lakh tonnes of our annual demand.

 “The Agriculture Ministry is implementing some sort of definite action plan to meet 40 percent edible oil demand locally  in next 3-4 years”, said the minister while addressing a seminar in Dhaka.

Bangladeshis consume 20 lakh tonnes of edible oil a year, while the local production hovers around only around 2 lakh tonnes. The imported 18 lakh tonnes of edible oil incorporate 46% soybean and 53% palm oil.