Mercaris, the market data and auctions startup that is helping to grow organic and non-GMO agriculture in the U.S., released its Monthly Market Update on August 14 exploring the current state of organic and non-GMO commodity production, supply, and demand.
“Although continued growth in U.S. organic production remains important to the market, imports clearly emerged as the most influential U.S. organic supply factor” said Ryan Koory, Director of Economics at Mercaris.
Organic whole soybean imports are on pace to decline 35% year-over-year by the end of the current marketing year, mostly due to a shift in demand to organic soybean meal. India has emerged as the dominant country of origin of U.S. imported soybean meal. Mercaris estimates U.S. imports of combined organic soybeans and soybean meal will expand 5% year-over-year by the end of the 2018/19 marketing year.
Organic whole and cracked corn imports increased 26% in July, month-over-month. The increase in imports originated from the Black Sea region, which reached their highest level since March of this year. The supply of organic cracked corn imports remains heavily reliant on the Black Sea region. “Whether the USDA’s increased scrutiny will have a major impact on U.S. imports is undetermined as import data has yet to reflect any change in the market.” said Koory.
