The American Soybean Association (ASA) has welcomed a significant development in U.S.–Bangladesh trade as leading Bangladeshi agribusinesses signed letters of intent to substantially increase purchases of U.S. soybeans and soybean meal over the next 12 months. The commitment, valued at $1.25 billion, represents more than triple the $364 million imported by Bangladesh in the 2023/2024 marketing year.
Bangladesh has emerged as a top 15 market for U.S. soy exports and is projected to show strong growth in the coming years. The new agreements are expected to support Bangladesh’s expanding poultry, aquaculture, and food sectors while reinforcing economic opportunities for American soybean farmers.
ASA President Caleb Ragland emphasized the significance of the announcement, noting that it ensures a dependable supply of high-quality U.S. soy for Bangladesh while supporting farm families and rural communities across the United States. He described the move as “a major win for soybean farmers and a meaningful step in expanding reliable market access for U.S. agriculture.”
The ASA highlighted the role of the U.S. Department of Agriculture, the U.S. Soybean Export Council (USSEC), and government officials in facilitating the agreements and opening new opportunities for U.S. soy in South Asia.
Looking forward, ASA intends to continue working with partners to promote U.S. soy’s sustainability and nutritional advantages, strengthen market development efforts, and enhance global food and feed supply chains. This initiative is expected to secure long-term trade relationships while advancing the global competitiveness of U.S. soy.
