In UkrAgroConsult reported that Bangladesh’s largest soybean processors and importers—Meghna Group of Industries, City Group, Delta Agrofood Industries Ltd., Mahbub Group, and KGS Group—have signed letters of intent to increase their purchases of U.S. soybeans over the next 12 months.
Under the agreement, Bangladesh’s soybean meal processors and importers have committed to purchasing soybeans and meal worth $1.25 billion, according to the report.
According to the USDA, in 2024, American soybeans will be Bangladesh’s largest agricultural export, valued at $350 million. Bangladesh is the largest market for American soybean exports in South Asia, with imports of American soybean meal increasing by 650% year-on-year.
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Category: Food & Agriculture
