On the eve of SOE implementation, more details of massive fraud have been unearthed in Europe, leading to an indictment for organic grain exporters. Along with organic grain exporter Hakan Agro DMCC, several Turkish individuals have been implicated in a conspiracy to sell conventional corn and soybeans as organic.
Turkish businessman Hakan Bahçeci died in 2020, but he was at the center of the elaborate scheme that sought to source conventional corn and soybeans from Eastern Europe, store them in Turkey while fake certificates were generated, and export to the U.S. Born in Kurdish province Diyabakir, Bahçeci was a representative for President Recep Tayyip Erdogan to…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...