Brazil: Buyers’ caution and restricted supply reduce business in the bean market in October

The month of October proved to be challenging for the Brazilian bean market, characterized by weak demand and pressured prices since the beginning of the period. This situation was influenced by several factors, including macroeconomic issues, grain quality and limited supply. According to Gabriel Viana, an analyst at Safras & Mercado, carioca beans began the month with falling prices, reflecting low retail demand and the inferior quality of the beans. “The difficulty in selling them was so severe that there were cases of product returns. In the Cereal Zone of São Paulo, a bag of extra carioca beans, grade 9, was sold for between R$245.00 and R$275.00, varying according to quality,” he reported. Viana highlighted that climate problems, such as drought and fires, affected the quality of the batches, resulting in dry and fragile beans, susceptible to breakage during processing. However, in the second half of the month, carioca bean prices recovered by 6.8%, driven by limited supply ...