Dried Beans Shortage in Spain causing Exorbitant Prices

The wholesale price of common bean in Spain escalated by +159.42% YoY to USD 6.18/kg in W4 Mar-22. Morocco is the major exporter to Spain experienced a drought that delayed production. The high demand for common beans in Morocco during the upcoming Ramadan led Morocco to reduce export to satisfy the domestic market first. Less supply in Spain for dried common bean led the price to increase in March 2022.