04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Organic soybean meal prices continue to remain elevated, pricing close to $800 per short-ton in south-central Pennsylvania. High levels of shipping costs continue to buoy the cost for imported organic soybean meal in the US. While prices of organic soybean meal have increased in India, the cost of a container continues to rise. The Jacobsen has heard that prices for containers coming from India to Baltimore are averaging near $3,250 per container.
Additionally, The Jacobsen heard on Monday that over the weekend, the Mediterranean Shipping Company has generated a surcharge to bring shipping containers back to India. The new charge will be $250 per empty container. This new surcharge will begin on December 3, 2020. While this will create additional costs, it will also possibly eliminate some of the issues with the container shortage. In theory, if an exporter wanted to ensure that a container was in India and able to ship it to the United States, they could pay for an empty…