Brazil: Weak consumption and off-season pressure bean prices in September

The carioca bean market began September with optimism, recording prices of up to R$305.00 per bag, driven by buyers’ restocking. This movement was stimulated by supply from states such as Minas Gerais, Goiás, São Paulo and Paraná, according to an analysis by Evandro Oliveira, a consultant at Safras & Mercado. However, throughout the month, demand cooled, causing the price of extra beans to fall to R$280.00 per bag. “The prices reflect buyers’ caution in the face of high prices and weak retail consumption,” Oliveira assessed. From the middle of the month, the market continued to show hesitation, with slow-browning beans being sold at R$290.00 per bag. Sellers released small batches in an attempt to stabilize prices, but demand remained low. In Minas Gerais and Goiás, prices for standard 8 beans ranged between R$210.00 and R$230.00 per bag, while higher quality lots were scarce and little sought after. "Despite the increase in supply, demand remained weak. The outlook for October ...