Growing U.S. soy's market share in Bangladesh02/03/2020 | Soybean Exports, Economics, Audio News
Discovering and creating new market opportunities for U.S. soy is always critical, especially as sales to China (the world’s top market) remain stubbornly slow. This week, a delegation of U.S. soybean leaders is traveling through Bangladesh and Pakistan for discussions with trade officials, farmers and ag commodity buyers and processors. The countries’ combined population exceeds the United States (354 vs. 326 million).
The ISA delegation, which includes Iowa Soybean Association (ISA) President Tim Bardole, President-Elect Jeff Jorgenson and Market Development Director Grant Kimberley, CEO Kirk Leeds and Aaron Putze, Sr. Director of Information & Education, will gather insights throughout the week to help guide the association’s work in building market share of U.S. soy in developing markets.
Listen to Putze and Reja Masum outline the market potential for U.S. soybeans in Bangladesh. The U.S. is their first choice for soybeans due to the amino acid and protein profiles. Needing roughly 1.7 MMT of soybean meal, Masum says even more will be needed to support the growing aquaculture and poultry sectors.
U.S. Soybean Export Council (USSEC) CEO Jim Sutter outlines the country of Bangladesh and their potential market demand for U.S. soybeans. As the country works to increase its protein intake through fish and poultry, more soybeans will be needed to feed their livestock.
ISA President Bardole of Rippey discusses the population and eating habits of Bangladesh citizens and their perceptions of U.S. soy. He also mentions why trade missions to grow markets like Bangladesh are valuable.
Iowa Soybean Association CEO Kirk Leeds provides key insights into Pakistan and Bangladesh as trading partners and U.S. soybean customers as the trade delegation closes their trip.
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