Bangladesh to import $1b worth of US soybeans

Bangla Press Desk: Bangladesh’s leading soy crushing companies have signed a major agreement to purchase $1 billion worth of US soybeans over the next twelve months, marking a significant milestone in agricultural trade between the two nations.

The agreement was signed between a consortium of Bangladesh’s top three soy processors—Meghna Group, City Group, and Delta Agro—and the US Soybean Export Council (USSEC), a trade association that promotes American soybean exports worldwide, according to a press release.

According to the USSEC, the deal reflects Bangladesh’s rising demand for high-quality soybeans and underscores the country's growing importance as a key market for US agricultural products.

US Chargé d’Affaires Tracey Jacobson welcomed the signing, saying the agreement would further strengthen economic and trade relations between the two countries.

She noted that US soybean exports to Bangladesh are expected to triple as a result of this deal.

“This agreement demonstrates the strength of our bilateral trade partnership and highlights Bangladesh’s growing role as a vital market for American farmers,” Jacobson said.

The US Soybean Export Council described the agreement as a “landmark step” in expanding food and feed industry cooperation, benefiting both American producers and Bangladesh’s agriculture and livestock sectors. This article was originally published on the Daily Sun.

BP/ZE