The government decides to allow export of soybean meal on a case-to-case basis for different industrial groups and crushing industries concerned.
To this end, commerce ministry has asked the office of the chief controller of imports and exports to take necessary measures.
The decision has been made as per recommendations of a committee to make suggestions to the government as to whether the current export ban should be lifted or not.
The committee was formed at the request of the industrial groups and crushing industries concerned.
On October 14 last, the ministry banned soybean meal export to tame the rising prices of the key elements of poultry and cattle feed.
The restriction was also aimed to protect the home dairy and poultry sector.
The decision was made as per the request of the Bangladesh Dairy Farmers' Association.
The total demand for soybean meal in Bangladesh is an estimated 2.5 to 2.6-million tonnes per year.
Of the needs, 75-80 per cent is procured from domestic soybean oil producers.
The country imports an estimated 0.35-0.04 million tonnes of soybean meal per annum.
Apart from local production, Bangladesh is currently importing soybean meal from countries like India, the US, Brazil and Argentina.
About 70-75 per cent of the total cost of producing eggs, fish and poultry is spent on buying feed.
Currently, soybean seeds are being imported with zero duty facility to help the industry flourish.
According to the minutes of a commerce ministry meeting, there is demand for Bangladeshi soybean cake, meal and soybean in different countries, including Nepal, Cambodia, India and Thailand.
Annual soybean meal production capacity of industrial groups like Meghna, City, Globe, KBC and Jamuna is close to 5.0-million tonnes.
They (industrial groups) claimed the soybean seed-crushing factories have been facing massive losses due to the export ban, meeting sources mentioned.
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