Brazil: Bean market faces challenges with oversupply and weak demand

The Brazilian carioca bean market experienced a week of slow trading, marked by the predominance of lower-quality lots. According to Gabriel Viana, an analyst at Safras & Mercado, prices for medium- to low-quality lots ranged from R$200 to R$230 per bag, while higher-quality lots were traded between R$265 and R$275. “The low moisture content of the beans made sales difficult and led to caution among buyers, who were hesitant to purchase goods for immediate consumption. This technical difficulty, combined with the reduced presence of active buyers, resulted in stable prices, without major variations throughout the week,” reported Viana. With the increase in supply, mainly due to new harvests in São Paulo, Minas Gerais and Goiás, sales continued to decline, focusing on previous leftovers. In the black bean market, the slow movement was repeated. The analyst pointed out that supply was sufficient, including both domestic and imported beans, but demand remained weak. Prices for higher ...