Brazil: Climatic challenges impact bean prices in the first 2023/24 harvest

During the week, the carioca bean market experienced moderate movement, driving a new rise in prices. Even in the face of buyers' initial hesitation in the face of increases, sales were considered satisfactory, reaching around 8,500 bags out of a total of 23,000 entries. SAFRAS & Mercado analyst and consultant, Evandro Oliveira, highlights that, despite higher prices, the absence of goods drove demand for commercial beans, registering new entries throughout the week. The average bag of extra grade 9 carioca beans at Bolsinha São Paulo ended the week at R$385, representing an increase of 10% compared to the previous week and an increase of approximately 11.59% compared to the same period last month . Persistent shortages kept carioca beans extra 9.5 strong, while other segments faced a stuck market with stable prices. The strong readjustment at the beginning of the week had a negative impact on sales. The start of planting of the first harvest faced significant weather challenges, ...