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Bangladesh firms ink $1bn soybean deal with US
In a major boost to bilateral trade, a consortium of Bangladesh's top soy crushing companies, Meghna Group, City Group, and Delta Agro, has committed to purchasing $1 billion worth of U.S. soybeans over the next twelve months.
The landmark agreement with the U.S. Soybean Export Council (USSEC), a trade association representing U.S. soybean farmers abroad, marks a significant step toward strengthening U.S.-Bangladesh agricultural cooperation and expanding access to high-quality U.S. agricultural products in Bangladesh, said a US embassy's press release here.
U.S. Charge d'Affaires Tracey Jacobson welcomed the agreement, noting that U.S. soybean sales to Bangladesh are expected to triple as a result.
She emphasized that the deal reflects Bangladesh's increasing importance as a key market for U.S. exports and a growing partner in agricultural trade.
U.S. Mission Spokesperson Poornima Rai said the agreement underscores the shared commitment of both nations to deepening commercial ties and promoting food security through sustainable agricultural partnerships, reports BSS.