The United States’ move to sell $1 billion worth of soybeans to Bangladesh is set to impact India’s soymeal exports to the neighbouring country, triggering fresh concerns among exporters who already witnessed a slowdown in shipments during the oil year 2024–25, which ended in September.
Bangladesh has traditionally been one of the largest buyers of Indian soymeal. However, shipments during 2024–25 saw a sharp decline to 1.63 lakh tonnes, down 46 per cent from the previous year’s 3.02 lakh tonnes.
“Bangladesh is importing a lot of soybean at cheap prices from the US, which resulted in a drop in exports during the 2024–25 oil year. They have just signed a big contract with the US to buy $1 billion worth of soybeans, which obviously means they will not buy from India — and that’s a concern,” said DN Pathak, Executive Director, Soybean Processors Association of India (SOPA), the apex trade body.
