FE Today Logo

US soybean industry eyes more exports to BD

FE REPORT | February 15, 2020 00:00:00


The United States (US) soybean industry is eyeing to increase its export to Bangladesh, the United Press International (UPI) reported.

According to it, the demand for soybean in Bangladesh and Pakistan is increasing fast for the growing animal agricultural industries like fisheries and poultry.

The president-elect of the Iowa Soybean Association (ISA) Jeff Jorgenson told the agency that the two countries didn't import a single soybean five years ago.

"And now, five years later, Pakistan imports about 2.5 million metric tons and Bangladesh imports about 1.0 million metric tons a year," Jorgenson was quoted as saying.

The sudden spike in demand comes from the nations' nascent -- and quickly growing -- animal agricultural industries, he said.

The countries are slowly gaining political and economic stability, which is making the people wealthier, said Grant Kimberley, the senior director of market development for the ISA. One of the early things people do in that situation is add more animal foods to their diets.

American soybeans are used mostly to feed livestock and fish, according to the UPI report.

"We think imports to those two countries could easily double within five to seven years," said Kimberley.

"That would be pretty significant. They could enter our top 10 markets," he added.

To propel that growth, the US Soybean Export Council is working with companies in those nations to improve their farm and feeding technologies, Kimberley said.

The council, along with members of the Iowa Soybean Association, conducted a trade mission to the region last week.

They also discussed launching in-country campaigns touting the benefits of animal protein over that of plants.

Such campaigns might be accompanied by tutorials about different ways to prepare chicken and fish.

saif.febd@gmail.com


Share if you like