An ag economist says the U.S. ending its equivalency agreement with India at the beginning of this year is having a substantial impact on organic soybean prices.
Ryan Koory with Mercaris tells Brownfield India is the largest organic soybean meal supplier in the U.S.
“India accounts for about a third of U.S. organic soybean supplies overall,” he explains. “So with the USDA’s announcement, that puts that supply chain under threat.”
He says producers in India have until this August to begin an updated USDA organic certification process and until August 2022 to complete it before they lose access to the U.S.
