Bangladesh Welcomes First US Wheat Shipment in New Trade Deal
Bangladesh has received its first wheat shipment from the USA, a significant step in their five-year trade agreement. The MV NORSE STRIDE, carrying 56,950 tonnes of wheat, has arrived at Chittagong port from Kalama port in Washington, USA.
This shipment is part of Bangladesh's plan to import 2.20 lakh tonnes of wheat from the USA at Tk 817.57 crore. Around 60% of the wheat from the MV NORSE STRIDE will be unloaded at Chittagong's outer anchorage, with the remaining 40% headed to Mongla port in Khulna.
Bangladesh's annual wheat demand is around 70 lakh tonnes, primarily met by private sector importers. Traditionally, imports come from Russia, Ukraine, Canada, Brazil, Argentina, and Australia. However, since the war in Ukraine began in 2022, shipments from there have decreased, leading Bangladesh to diversify its sources. The USA has emerged as a new supplier, with a five-year MOU signed to import 700,000 tonnes of wheat annually.
The USA wheat, priced higher than current market rates, was approved by Bangladesh's advisory council. The first consignment, transported by the MV NORSE STRIDE, marks the beginning of a new trade partnership with the USA. Unloading will commence once laboratory tests confirm the wheat's fitness for human consumption. This deal aims to reduce Bangladesh's trade gap with the USA, where Dhaka's exports totaled $8.4 billion against imports of $2.2 billion in 2024.
