Bangladesh Increases Reliance on US Soybeans

Bangladesh's tea exports jumped 57.55% in 2024, reaching 2.45 million kilograms and generating Tk45.96 crore in revenue. This marks a strong recovery from previous years when export volumes had dropped below 1 million kgs.

Marico Bangladesh reported a 28% year-on-year profit growth in FY2024-25, reaching Tk 590.6 crore, driven by a 12% increase in revenue to Tk 1,630.93 crore and higher net finance income. The company’s earnings per share (EPS) rose to Tk 187.49 from Tk 146.23 in the previous year.

Bangladesh has launched its first-ever “Soy Month” to promote awareness of soybean’s nutritional and economic value, in collaboration with the US Soybean Export Council (USSEC). The initiative, inaugurated at BPICC headquarters, highlights soybean's role in food security, livestock development, and as a key protein source.

Gold prices in Bangladesh have surged to record highs, outpacing even optimistic global projections. As of Sunday, 22-carat gold hit Tk 167,833 per bhori, with one ounce of gold locally priced at Tk 447,548—about Tk 44,824 more than the current international rate.

Despite persistent high inflation exceeding 9%, Bangladesh’s public food distribution under social protection schemes dropped by over 7% year-on-year in the first three quarters of FY2024-25, mainly due to political instability and disruptions in local governance. This reduction—from 25.34 lakh tonnes last year to 23.46 lakh tonnes—comes as rising prices continue to strain the poor.

The interim government has approved the export of 25,000 tonnes of aromatic rice by 133 companies, including Square Food and Beverage, Pran-RFL Group, and Akij Essentials, each permitted to export 500 tonnes, while others like Ispahani and Tanveer Foods were allowed 400 tonnes.