United States: Council’s engagement In Bangladesh continues to show promise
United States
Bangladesh
Published Mar 5, 2021
Tridge summary
Shifting trade patterns are creating new export opportunities for U.S. corn co-products in the South Asian market of Bangladesh. Distiller’s dried grains with solubles (DDGS) imports to Bangladesh are up 104 percent in the first four months of the 2020/2021 marketing year, with sales of 79,000 metric tons of DDGS (10.25 million bushels in corn equivalent) compared to only 38,500 metric tons (nearly 5 million bushels in corn equivalent) the year before.
Original content
After U.S. Grains Council (USGC) staff worked closely with the U.S. Department of Agriculture (USDA), two Bangladeshi banks have recently been approved by the Foreign Agricultural Service’s (FAS’s) Export Credit Guarantee (GSM-102) program. The next steps for the Council will be working with exporters in the States that can avail themselves of GSM-102 credit and with Bangladeshi buyers and FAS staff in Dhaka to bring more banks into the GSM system. The recent developments with Bangladesh are the result of a 2019 visit with importers and end-users during which Council staff members from the region and the United States were able to learn more about the constraints to and market potential for future sales of U.S. coarse grains and co-products to the country. “We were seeing growth potential since before COVID-19 because Bangladesh does not have regulatory barriers to most U.S. commodities. However, since the pandemic, that potential is starting to be realized. The Bangladeshi ...
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