Organic soybean meal prices in India have ticked up slightly along with the NCDEX. The Jacobsen is not aware of any merchandisers currently planning on bringing in organic soybean meal in November. With the U.S. Customs Department eyeing new shipments, there is a clear need for paperwork that shows transaction certificates.

Shipping Cost Remain Elevated

Indian exporters tell Fastmarkets/The Jacobsen that an FCL is still near $600 per metric ton to the East and West Coasts of the United States. Prices are quoted near $900 FOB India. This calculation puts prices near $1,500 CIF before custom clearing and transloading. Bulk shipments likely make sense, but this process is not easy. There are some rumors that exporters are considering bulk cargoes of Chinese hi-pro organic soybean meal. Exports tell Fastmarkets that Chinese organic soybean meal price is quoted between $950-$1000 per metric ton FOB China. Load in bulk, even with the duty on Chinese organic…