Organic Soybean Imports Decline in March

Organic Soybean Imports Decline in March

 

Organic soybean prices remain elevated and few beans are expected to arrive in May and early June. Prices are hovering near $660 per metric ton FOB India. This puts organic soybean prices near $680 per short ton before transloading in Baltimore.  

Approximately 6-ships are expected to leave the Nhava Sheva International port in May with 35-days on the sea and likely 14-days in ports before they arrive in the United States. It appears that shipments are running on a regular schedule. Nhava Sheva represents approximately 25% of the shipments that contained organic soybean or organic soybean meal in 2019 and is a representative of the shipments that are on their way to Baltimore.

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