Dhaka, Nov. 5 -- Bangladesh's leading soy processors and feed importers have signed agreements worth over $1.25 billion to import US soybeans and soybean meal, aiming to boost the country's protein and feed industries while narrowing the trade gap with the United States.

The deal, representing nearly 2.5 times the country's previous US soy purchases, was signed between Bangladesh's leading soy value chain companies and the United States Soybean Export Council (USSEC) at two ceremonies in a city hotel on Tuesday, attended by importers, mill owners, diplomats, and business leaders.

Participating Bangladeshi companies include Meghna Group of Industries, City Group, Delta Agrofood Industries Ltd, Mahbub Group and KGS Group, all of whom have...