Fats, Oils, & Fuels Webinar 4/20/21: Customer Q&A
Video shorts from the Fats, Oils, & Fuels Webinar Report Our team of Senior Analysts break down questions from the live Webinar audience during the call on Tuesday, April...
According to merchandisers, organic soybean meal prices remain bid, offered in California at $1,300 per short ton at Oakland’s port. What is clear to the Jacobsen is that several large broilers, layer, and dairy companies are covered until the new crop. However, many medium and smaller concerns are still short organic feed for the summer. The Jacobsen has heard that TQ cert has received authorization to issue trading certificates, but this information has yet to be confirmed. Even if this is the case, it will be difficult for the Indian soybean meal machine to get back up and running at the same rate as 2020 and deliver nearly 80K metric tons in q2. Additionally, it has not been helpful the shipping costs continue to rise. Merchandisers are telling The Jacobsen that an FCL cost $4k from Nhava Sheva to Baltimore.
Organic milk sales at supermarkets and big-box stores remain upbeat. According to The Jacobsen, organic retail sales increased 8% for the five months ending February 2021. This increase in demand compares to an 8.5% increase year over year for February. February retail sales at grocery stores nationally in the U.S. increased a robust 11% year over year.
According to the Agricultural Marketing Service, organic milk product sales for December 2020 were 253 million pounds, up 8.9% year over year and up 10.4% for the 12-months ending in December. Organic whole milk sales for December 2020 totaled 114 million pounds, up 10.6% compared to a year earlier and up 11.5% compared to 2019. The dairy feed is the most prominent single component of the organic animal feed sector, and the robust double-digit gains continue to bode well for the organic feed market.