Though Bangladesh mostly imports soybean oil from Brazil and Argentina, some refineries also import US soybeans for crushing here in Bangladesh. The United States is the world’s number one soybean producing country. Bangladesh’s domestic soybean production is only 0.15 million tons. The country needs to import over 1.1 million tons of soybeans and half a million tons of soymeal to keep pace with the growing needs of the cooking oil and feed industry respectively. UN FAO predicts a fall in global maize output due to a minimum 10% shrinkage in US maize production due to a slower pace of planting owing to unfavourable weather conditions.

Source: Dhaka Tribune June 08, 2019 19:18 UTC