Bangladesh’s leading edible oil refiners and feed millers have signed letters of intent (LoIs) with the US Soybean Export Council (USSEC) to import more than $1 billion worth of American soybeans next year.
City Group, Meghna Group, and Delta Agro will import the bulk of the commodity, valued at around $1 billion, while Mahbub Group and KGS Group will make additional purchases — a move that industry officials said could help narrow Bangladesh’s trade deficit with the United States.
The signing ceremonies, held at a city hotel on Tuesday, were attended by US Ambassador to Bangladesh Tracey Ann Jacobson, senior officials from USSEC and the US Department of Agriculture, and leading representatives from Bangladesh’s agri-processing industry.
“This agreement is a wonderful example of the growing economic partnership between the United States and Bangladesh,” said Ambassador Jacobson. “Agricultural trade has tripled in five years — from $350 million to $1 billion — reflecting the strength of this partnership.”
The US Embassy in Dhaka said in a statement that the deals are expected to triple US soybean exports to Bangladesh next year.
USSEC CEO Jim Sutter described the signing as “a milestone in the three-decade-long agricultural partnership” between the two nations.
He added that Bangladesh’s focus on sustainable agriculture aligns with US soy’s low carbon footprint and zero-deforestation record.
Industry leaders said the agreement would strengthen Bangladesh’s food security, promote sustainable farming practices, and expand bilateral trade opportunities.
Meghna Group Chairman Mostafa Kamal called the deal “a bridge between American farmers and Bangladeshi families,” while City Group Managing Director Md Hasan said the partnership would “open new avenues for innovation and sustainability in Bangladesh’s food supply chain.”
Delta Agro Food Industries Managing Director Amirul Haque praised the reliability and quality of US agricultural products, saying, “US soy’s superior quality remains its biggest strength. Beyond soybeans, we see enormous potential for cooperation in areas such as liquefied petroleum gas (LPG) and crude oil imports. Such initiatives could significantly reduce the existing $6 billion trade deficit between the two countries.”
