Lower crop yield in 20 years pressures Carioca prices

The bean market is experiencing a new level of prices, with Carioca bean grade 9 already reaching R$ 250 per bag in Minas Gerais, while producers are beginning to test even higher values. According to the Brazilian Institute of Beans and Pulses (Ibrafe), the movement is supported by Conab's September numbers, which project a total supply of 1.642 million tons of colored beans—lower than in 2016. The difference, however, is that at that time the production was almost entirely Carioca beans, whereas today there is a significant share of Red, Rajado, and Jalo beans, resulting in the smallest Carioca bean crop in 20 years. This scenario reinforces the outlook of lower availability of the most consumed grain in Brazil during the upcoming months of September, October, and November. The uncertainty that permeates the sector is how high the prices can go. Although many wonder if there is room to repeat the R$ 400 per bag seen in 2016, experts consider that the current conditions are ...