Bangladesh is emerging as an unexpected beneficiary of the ongoing trade tensions between Washington and Beijing, as local importers move swiftly to capitalize on a surplus of low-cost American soybeans left unsold amid China’s reduced purchases.

Once the largest buyer of US soy products, China has slashed its imports following President Donald Trump’s retaliatory tariffs. The shift has flooded the global market with excess American soybeans, offering Bangladesh an opportunity to secure supplies at discounted prices.

Local millers and traders say the US glut has helped them diversify sourcing and cut costs. Traditionally, Bangladesh relied on Latin American suppliers such as Brazil and Argentina. But with soaring demand from China driving up Latin American prices, the United States has become the more attractive option.

Bloomberg reported that China, the world’s top soybean importer, has not booked a single shipment from US farmers this season, leaving American growers struggling to find buyers.

In 2024, the United States accounted for one-fifth of China’s soybean imports, worth over $12 billion, representing more than half of America’s total soybean export value.

Reuters data show that Bangladesh’s soybean imports from the US have surged to just over 400,000 tonnes, still modest compared to China’s typical demand but a sharp increase nonetheless.