Recent studies indicate that Bangladesh’s economic development and population growth could make its market even more attractive.
This year, according to available data, Bangladesh has purchased 10 times more Canadian grain than last year, a significant increase.
For Canada, which is expecting a record wheat harvest this year, this increase in foreign markets is more than welcome, experts note. The fact that Bangladesh has become the largest buyer of Canadian wheat over the past three months will undoubtedly benefit Canadian farmers.
It is noted that total shipments over the three months amounted to 547,000 tonnes. Compared to approximately 56,000 tonnes for the same period a year ago.
One factor that could have led to such a sharp increase in Bangladesh’s wheat purchases was likely the significant decline in global prices, some analysts believe.
According to them, not only Canada but also several other countries are currently facing record harvest volumes that need to be sold one way or another.
As a result, competition arises between producing countries, forcing them to lower prices.
This allows countries importing agricultural products to do so under more favorable terms.
The second factor driving increased demand for wheat in Bangladesh is its growing population and rising living standards, which means each resident is consuming more than before.
This allows us to predict that Bangladesh’s domestic market capacity could further increase in a few years.
Therefore, wheat-producing countries can already begin competing for the country’s market, and we can already see similar processes underway.
Overall, the USDA estimates that Bangladesh should import approximately 7 million tonnes of wheat during the 2025-2026 agricultural year. This is approximately 8% more than the previous year.
It is also noted that wheat is beginning to be viewed by the Bangladeshi population as a potential alternative to rice.
Therefore, during periods when prices for this crop rise, the country often experiences peak demand for wheat, which is used to produce flour, as well as bakery products, pasta, and confectionery.
