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Bangladesh Soybean Import Recovery Expected to Continue
17.12.2024 22:37 "Agro Perspectiva" (Kyiv) —
According to the report of the USDA Oilseeds: World Markets and Trade (December 2024), 2024/25 Bangladesh soybean imports are expected to continue to recover on strong demand from the domestic feed sector and economic stabilization. This recovery marks a positive turn for the Bangladesh economy after a high inflation- and currency-driven slowdown in 2022. Importers struggled to receive letters of credit due to a domestic currency crisis and shortage of U.S. dollars. Bangladesh real Gross Domestic Product is expected to grow by 4.5 percent in 2025 according to the International Monetary Fund. FAS Dhaka reports that the animal feed sector will grow in the coming years. A recent report states that livestock feed production was 6.6 million tons in 2022 and is likely to hit 10.0 million tons by 2030. At the same time, industry is reporting the opening of new crush facilities. In the coming years, Bangladesh import dependence will grow as their domestic soybean consumption increases. U.S. soybean exports to Bangladesh are expected to grow alongside and continue to play a role in the expansion of the Bangladesh feed and crush sector. Based on current export commitments, U.S. soybean exports to Bangladesh are well-positioned for 2024/25. As of November 28, Export Sales reported the highest volume of outstanding sales for the same week in the past 5 years. AGRO PERSPECTIVA offers Agro + «Ukrainian Grain & Oilseed Market» weekly analytical bulletin. Concerning subscription please contact: client@agroperspectiva.com or +380 67 596 46 52 (WhatsApp, Viber, Telegram).
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