Organic Soybean Imports are Slowing

Organic Soybean Imports are Slowing

 

Organic soybeans continue to make their way into the U.S. but at a slower pace. For the first four months of 2021, organic soybean imports have declined 46% year over year. The Jacobsen has heard from merchandisers that there is some pushback at higher prices. Unfortunately, this is not a demand issue. Consumer spending in the U.S. remains robust, and grocery store retail sales are upbeat. Feed demand is rising. The underlying problem with the price is a supply disruption, and there are not enough organic soybeans or organic soybean meal coming to the U.S. in 2021 to meet the current demand.

In 2020 organic soybeans came from a plethora of destinations. The decline in exporting organic soybeans to the United States has come from a range of places. For the first four months of 2021, the export of Russian organic soybeans is down, Indian organic soybeans are down, and Argentinian organic soybean exports are down. Organic soybean export from Ukraine is up year…

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