Competitive shipping rates integral to soy

Beginning late 2020, the American Soybean Association started tracking a new development in the shipping industry that could affect soy.

Decisions by shipping container companies to employ certain practices that prioritize imports over exports have become harmful to U.S. agriculture, according to a news release from the group. At issue is that major shipping container companies have been rejecting cargo from agricultural exporters, and ASA continues to monitor the situation and assess potential implications for soy.

On Feb. 9, ASA — in partnership with the Agricultural Transportation Working Group — briefed the Federal Maritime Commission on how the current posture of shipping container companies is harming the agriculture industry at large. During that briefing, ASA staff told the commissioners that access to and competitive rates for containers on major ocean carriers is an integral part of maintaining U.S. soy customers around the world.

ASA will continue to track this issue with partners across the agricultural industry.