Decline in Indian Organic Soybean Imports are Offset by Russia

Decline in Indian Organic Soybean Imports are Offset by Russia

 

Organic soybean prices remain buoyed, despite a retracement on the NCDEX. Exporters tell The Jacobsen that organic soybean meal prices are close to $700 per metric ton FOB India. Shipping rates remain high, close to $3,600-$3,700 per FCL. Organic soybean imports eased in November, according to the latest customs data. According to The Jacobsen, organic soybean imports are down 75% month over month in November and 22% year over year. Despite the recent decline in organic soybeans imports to the U.S., organic soybean imports for the 12-months ending November 2020 are up 9% year over year.

Organic soybean exporters have shifted over the last 11-months. For the 11-months ending November 2020, India has seen a 43.5K metric ton decrease in the volume of organic soybeans that are exported to the U.S., while Russia has seen a 43.8K metric ton increase in exports to the U.S. Argentina has also seen a decline in the…

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