News

Demand for beans drives prices in Brazil

Dried Pinto Bean
Black Bean
Brazil
Market & Price Trends
Published Apr 20, 2024

Tridge summary

The Brazilian carioca bean market has shown stability over the past week, with 30 thousand bags offered and 10 thousand sold, keeping prices steady on the Stock Exchange. The market has a particular interest in high-quality beans, especially those with a color rating above 8.5. However, projections for the second harvest of nucleus class beans, including Carioca, indicate an 8.6% decrease in area and an 8.74% drop in production compared to last year, due to lower price attractiveness and a shift towards more profitable crops like soybeans and corn. Meanwhile, the black bean market experienced minimal activity. Despite a well-supplied market for both carioca and black beans, low buying interest is expected to keep prices low. Weather conditions and disease risks remain concerns for the second harvest's outcome.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A reasonable volume of supply in the Brazilian carioca bean market was presented during a week, with the presence of buyers within expectations and maintenance of prices on the Stock Exchange. Around 30 thousand bags were offered, with approximately 10 thousand sold. According to Safras & Mercado analyst and consultant Evandro Oliveira, the market has stood firm for extra slow dimming standards, especially for those with a color rating of 8.5 or higher, while remaining stable for others. The prices of commercial beans had consequences, while the small variations in the prices of extra types reflected the quality of the bean. Competence of extra grain of superior quality contributed to the failure to deliver, maintaining nominal prices. The demand for superior varieties stood out, especially those with a color classification of 8.5, traded between R$280.00 and R$315.00 per bag, he said. The area projection for the second harvest of nucleus class beans, including the Carioca grain, ...
Source: CanalRural
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