U.S. organic soybean prices hit record high and boost food inflation

The prices of organic soy used in cattle feed and in the manufacture of soy milk in the United States have reached record levels, as imports that make up the majority of the country's supply have decreased, causing increases in food values, including chicken created organically. Soybeans and more expensive organic products are driving food inflation at a time when consumers are eager to eat better and focus on health during the Covid-19 pandemic. The $56 billion US organic food sector is also struggling with container shortages and a tight labor market as global food prices hit 10-year highs. Food companies and poultry producers are facing a bigger shock from the price of organic soy, which is shipped in containers, than from conventional crops shipped in bulk. Regular oilseed prices are around a seven-year high rather than an all-time high. Organic chicken farmers are cutting corporate expenses to offset high feed costs and struggling to source crops grown in the United States ...