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On behalf of a leading US-based conglomerate, LightCastle Partners conducted a study for assessing the prospects of entering the soy crush and edible oil sector in Bangladesh. As a company that has a global footprint in multiple industries, including food and agricultural products, they wanted to explore the prospects of entering the soy crush market of Bangladesh in order to expand their global foothold in this region.
LightCastle Partners was entrusted to provide guidance on assessing the attractiveness of the soy crush industry along with its relevant market dynamics in Bangladesh, and subsequently support the company to come up with a financially viable investment decision.
The broad objectives of the study were to answer the following key questions:
In light of the above questions, LightCastle Partners conducted a market research study to explore the soy crush value chain starting from raw material procurement to the processing of soybean and the relevant markets of its products in Bangladesh. The team selected a four-step development model for conducting the study as outlined below:
The team started by mapping the different relevant stakeholders across the value chain to reach out to them for information. Industry insights were collated from oil & feed industry experts and existing players in the soy crush market. Necessary data was collected from secondary sources and with the help of pre-designed data collection checklists. To gain greater clarity on the demand prospects of crush products, LightCastle deployed its field team in Dhaka, Chittagong, Rajshahi, and Rangpur to conduct field surveys at the wholesaler and retailer level of the oil and feed sector. Upon completion of data collection (both qualitative and quantitative), the LightCastle team analyzed the data and evaluated the findings to paint a clear picture of the local market dynamics revolving around the crushing industry.
The study is expected to assist the client to consider the most vital factors in deciding their next global stop. Alongside, the study intends to provide recommendations on the most suitable way to enter the Bangladesh soy crush market.
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