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“Soybean meal is one of the key ingredients in the poultry and aqua feed industry in Bangladesh,” the report said, adding that crushing is set to rise as feed production continues to expand.

“Recently, commercial poultry farms have expanded their operations, and some large private feed companies have begun contract farming for poultry production. Additionally, the use of formulated feed in aquaculture has increased,” it added.

The USDA forecasts soybean crushing will rise by 2.2 percent to 23.5 lakh tonnes in MY27, driven by stronger demand for both soybean oil and meal.

It also projects soybean imports will climb 4.3 percent to 24 lakh tonnes in the next marketing year starting in July. Total imports in MY26 are estimated at 23 lakh tonnes, according to the USDA.