Staff Reporter :
Five leading soy value chain companies from Bangladesh Meghna Group of Industries (MGI), City Group, Delta Agrofood Industries Ltd, Mahbub Group, and KGS Group have signed agreements to import $1.25 billion worth of soy products from the United States over the next year.
The landmark move is expected to strengthen Bangladesh’s feed and food industries while helping narrow the trade gap between the two countries.
The deals were formalized at two separate events held at the Sheraton Hotel in Dhaka on Tuesday, attended by importers, mill owners, diplomats, and business leaders.
Under the agreements with the US Soybean Export Council (USSEC), Bangladesh’s processors and soybean meal importers have pledged to purchase soybeans and soybean meal valued at $1.25 billion.
US soybeans form a critical component of feed mixes for poultry and aquaculture producers, and the agreements are seen as a step toward creating a reliable, high-quality, and resilient supply chain for Bangladesh.
At the signing, Kevin M. Roepke, Executive Director for the Middle East, North Africa, and South Asia at USSEC, highlighted the benefits for Bangladesh’s poultry, agriculture, and dairy sectors. “We are very proud of our bilateral relationship,” he said.
Amirul Haque, Managing Director of Delta Agrofood Industries Ltd, suggested that US imports could rise to $3.5 billion if crude oil and LPG are included alongside soybean products, which would contribute to reducing Bangladesh’s $6 billion trade gap with the USA.
MGI Director Tanjima Mostafa said her company aims to import one million tonnes of soybean products this year, describing it as the largest import in Bangladesh to date.
City Group’s Managing Director, Md Hasan, emphasized that large-scale soybean imports would ensure nutrition and food security across the country.
USSEC CEO Jim Sutter, speaking virtually, said, “Our US soybeans play an integral role in global food systems, providing nutrition and food security across borders.”
Md Taslim Shariar, Deputy General Manager of Meghna Group, noted, “This is a milestone for Bangladesh and its crushing industries.
Increased crushing supports food security, strengthens the poultry and feed sectors, and bolsters the edible oil industry. Bangladesh and US soy grow together, building a legacy of economic resilience and nutritional excellence.”
Tracey Ann Jacobson, Chargé d’Affaires of the US Embassy in Bangladesh, highlighted America’s focus on expanding agricultural exports to Bangladesh.
She noted that US soybean meal exports to Bangladesh grew from $5 million in 2023 to $20 million in 2024, and are projected to reach $86 million this year, reflecting rising demand in livestock, fisheries, and consumer markets.
The agreements with USSEC underscore a growing market for high-quality US agricultural products in Bangladesh and mark a significant step in strengthening bilateral trade relations.
