A group of Bangladesh’s leading soy crushing companies—Meghna Group, City Group, and Delta Agro—have agreed to purchase $1 billion worth of U.S. soybeans over the next year. The agreement was made with the U.S. Soybean Export Council (USSEC), which represents American soybean farmers in international markets.
This deal is expected to significantly increase the volume of U.S. soybean exports to Bangladesh. According to Tracey Jacobson, Chargé d’Affaires at the U.S. Embassy in Bangladesh, "U.S. soybean sales to Bangladesh are expected to triple as a result of this agreement." Jacobson also highlighted that Bangladesh is becoming an increasingly important market for American agricultural products.
The arrangement demonstrates expanding trade relations between the United States and Bangladesh in the agricultural sector.