Category

Countries

Iconic Year for Mustard Cultivation, Country Set to Earn Tk 117.25 billion in 2023
Iconic Year for Mustard Cultivation, Country Set to Earn Tk 117.25 billion in 2023

Iconic Year for Mustard Cultivation, Country Set to Earn Tk 117.25 billion in 2023

  • 24-Jan-2023 6:22 PM
  • Journalist: Jung Hoon

Bangladesh: The government's efforts to promote greater agricultural production, the country is expected to earn Tk 117.25 billion this year from Mustard cultivation. Agriculturalists are praising the increased yields and profits that come with cultivating Mustard in a short space of time.

Last year's higher prices for Mustard and high demand for oilseed have motivated farmers to cultivate Mustard, according to Director General Badal Chandra Biswas of the Department of Agricultural Extension.

“In addition, the government provides 10 lakh farmers with high-yielding seeds and fertilizers, as well as assistance so that they can cultivate Mustard while growing Aman paddy,” he stated. The prices of Mustard have become extremely profitable, and the production has been in high demand from edible oil mills and animal feed factories, leading to a significant rise in acreage dedicated to its cultivation.

This year, the country is projected to generate an estimated 9.38 lakh tonnes of Mustard worth around Tk 117.25 billion. The Department of Agricultural Extension (DAE) reported that the target for cultivation was 6.70 lakh hectares and farmers have already completed cultivation on 7,97,672 hectares.

This year, Mustard production is predicted to be up by 9.38 lakh tonnes compared to last year according to (DAE). One mound (40kg) of Mustard was priced at Tk 5,000 last year and if this rate continues this season, the country will see a revenue of approximately Tk 117.25 billion from mustard.

In the previous season, 8,24,300 tonnes of Mustard were produced from an area of 5,91,784 hectares. This year, there has been a noticeable growth in acreage for Mustard with an additional 205,888 hectares being taken up for cultivation.

Farmers in Bangladesh are using the gap between the Aman and Boro paddy seasons to cultivate different improved varieties of Mustard, as revealed by the Director General of the Department of Agricultural Extension (DAE DG). The DG also mentioned that bee farming is profitable for farmers who are growing Mustard. The government is aiming to increase local edible oil production to around 40%.

As more and more people become health-conscious, soybean and palm oils are falling out of favour in favour of healthier alternatives like Mustard, Sunflower, and other vegetable oils. This heightened demand has resulted in a boom for the local Mustards industry in Manikganj, Tangail, Sirajganj, Pabna, and Jhenaidah as entrepreneurs source their supplies from these areas.

India is aiming to make an incredible jump in edible oil production by 2024-25. According to the government's roadmap, local production will increase by 200% and should satisfy 40% of the country's total demand. This marks an impressive step towards becoming a self-sufficient nation.

Related News

Mustard Oil Prices Witness Significant Decline in January 2024, Anticipated to Extend in Coming Months
  • 15-Feb-2024 3:17 PM
  • Journalist: Nicholas Seifield
Eni Initiates Production of Vegetable Oil for Biorefining Operations in Mozambique
  • 07-Feb-2024 5:34 PM
  • Journalist: Motoki Sasaki
Global Mustard Oil Prices End November 2023 on a Pessimistic Note
  • 11-Dec-2023 5:07 PM
  • Journalist: Gabreilla Figueroa
Mustard Oil Prices Continue to Climb Globally in October 2023 Amid Increased Demand
  • 26-Oct-2023 4:52 PM
  • Journalist: Sasha Fernandes