US becomes Bangladesh’s leading soybean supplier

The United States has become the top supplier of soybeans to Bangladesh, overtaking other exporters as private importers ramped up purchases and US prices eased earlier in the year. A temporary slowdown in Chinese demand also made American soybeans more competitive on the global market.

According to the US Department of Agriculture (USDA), the US accounted for 84% of Bangladesh’s soybean imports in the first eight months of the 2025/26 marketing year, up from 48% a year earlier. Total imports during the July–February period reached about 13.5 million tons, of which 11.3 million tons were supplied by the US, while Brazil covered the remaining 16%.

The surge in imports followed a reciprocal trade agreement under which Dhaka committed to increasing purchases of US agricultural products, including soybeans, wheat, and cotton. The total value of the deal is estimated at $3.5 billion, including imports of at least 2.6 million tons of soybeans within one year.

However, the agreement has drawn criticism domestically and raised concerns among businesses. It came after the US reduced tariffs on Bangladeshi exports as part of broader efforts to narrow its trade deficit, while Bangladesh continues to maintain a trade surplus with the American market.

Demand for soybeans in Bangladesh remains strong due to heavy reliance on imports. Domestic production covers only about 7–10% of total demand, with most soybeans used for oil production and soybean meal in the feed industry. The USDA forecasts soybean imports to rise by another 4.3% to 24 million tons in the 2026/27 marketing year, while crushing is expected to grow by 2.2% driven by expanding feed production.