Bean imports of Mexico soar 140% in 7 months

Published 2021년 9월 30일

Tridge summary

Mexico has seen a significant increase in bean imports due to a local harvest shortage, with the cost rising by 140% in the first seven months of the year. This has resulted in the purchase of 158 thousand tons of beans, a 141% increase from the previous year, at a total cost of $137 million. The majority of these imports, 89.4%, come from the United States, with the rest from Canada, Argentina, and China. The higher import volumes have helped reduce bean prices for the public. However, the flowering and pod formation stage of the spring-summer 2021 bean crop is currently facing risk due to lack of rainfall, and collection centers in Chihuahua, Durango, and Zacatecas are closing due to low supply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

BRAULIO CARBAJAL. THE DAY. The low local harvest has caused the value of bean imports, one of the staple foods of the population in Mexico, to skyrocket 140 percent in the first seven months of the year, official data reveal. According to the latest information from the Bank of Mexico, between January and July beans were bought from other countries for an amount of 137 million dollars, when in the same period of last year only 56 million were disbursed. The expense is explained by a higher volume of product purchased and not by higher international prices for grains. In volume, Mexico has imported 158 thousand tons of beans, 141 percent more than the 64 thousand tons of a year before; 60.7 percent correspond to pinto beans, 34.5 percent to black and 4.8 percent to light bean varieties. Given the local shortage as a result of the droughts that hit several states in the country, higher imports have served to lower the price to the public, because according to the National ...

Source: Inforural