Alam Group has imported around 204,000 metric tonnes of edible oil till August this year to stabilize the market and meet consumer demand. Now, S. Alam Group’s total investment stands at USD 200 million, or tk 2,200 crore. Among imported edible oils, the total import of palm oil was approximately 1,92,000 metric tonnes and soybean oil was approximately 12,000 metric tons. The financial market value of imported palm oil is about USD 185 million or more than tk 2,035 crore. Whereas the market value of imported soybean oil is approximately USD 15 million or more than tk 165 crore.
Currently, the annual demand for edible oil in the country is approximately 23 lakh tonnes. Out of this, only about three lakh tons are produced locally from mustard, sesame and sunflower, which is about 13 percent of the demand. This means almost 90 percent of the edible oil needs to be imported to keep the supply stable. S. Alam Group is playing a leading role in this regard. The company imports about 30 percent of the domestic market demand for oil imports. In 2022, S. Alam Group imported about 6,78,000 metric tons of edible oil with an investment of more than USD 918 million or about tk 10,098 crore.
In this context, a representative from S. Alam Group said, “Most of the country’s annual edible oil demand needs to be imported. If the edible oil is not imported at the right time as per demand, it can have an adverse effect on the market. We regularly import palm and soybean edible oils to meet the needs of our customers and keep market conditions favorable to them. The people of the country are benefited by this efficient and prompt initiative of S. Alam Group and uninterrupted supply of edible oil is ensured.”
