Global bean scenario: Mexico increases imports by 272%, while Brazil evaluates market strategies

Dried Pinto Bean

China

United States

Published Jan 23, 2024

Tridge summary

The Brazilian Bean Institute (Ibrafe) has reported a significant increase in Mexico's bean imports due to climate issues, while Brazil's own consumption has decreased due to limited production and higher prices. There is disagreement over potential solutions, such as increasing carioca bean production or selling federal government stocks. Meanwhile, China has transitioned from a major exporter to an importer since 2019, and Argentina has boosted its exports. Brazil's bean exports dropped by 37% last year, and imports reached 65 thousand tons, suggesting a need for new strategies to stay competitive in the global market.

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Original content

The Brazilian Bean Institute (Ibrafe) highlights a notable increase in bean imports by Mexico, reaching an impressive 272% compared to the previous year. This phenomenon, attributed to climate problems previously indicated by Dr. Luiz Carlos Molion since 2019, adds complexity to the global bean scenario. The drop in bean consumption in Brazil, driven by limited production, raises prices and instigates reflections on strategies for the domestic market. The proposed increase in carioca bean production raises debates, since the eventual abundance could result in low prices, harming producers. Alternatively, the suggestion of selling federal government stocks also encounters disagreement, leading to the proposition of planting beans with potential not only in the Brazilian market, but also with liquidity in the world market. The complex global bean scenario gains more nuances with the change in China's position, which no longer exports large volumes to the United States, Cuba, ...

Source: Portal Do Agronegocio