United States: Council’s engagement In Bangladesh continues to show promise

Published 2021년 3월 4일

Tridge summary

The article highlights a significant increase in the import of U.S. corn co-products, specifically distiller’s dried grains with solubles (DDGS), in Bangladesh, with a 104 percent surge in the first four months of the 2020/2021 marketing year. This growth is attributed to the country's feed industry expansion, propelled by rising populations and incomes, despite the challenges of high commodity prices and logistical issues. The U.S. Grains Council is working to overcome credit and logistical barriers by approving two Bangladeshi banks for the Export Credit Guarantee program and addressing knowledge gaps in logistics. The positive market trend towards U.S. coarse grains and co-products in Bangladesh is seen as a promising development, with efforts underway to facilitate more bank participations in the program and enhance partnerships with U.S. exporters and Bangladeshi buyers.

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Original content

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. 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 ...

Source: US Grains Council