Brazil: Stability in the carioca bean market; expectation of increased demand in November

Published Nov 13, 2024

Tridge summary

The carioca bean market, as reported by the CEPEA/CNA index, has seen stable prices amidst increased sales due to higher demand. Weather challenges in São Paulo have forced packers to seek beans in Minas Gerais, especially the grade 9 variety, leading to a surge in demand and varying prices. As the new crop is about to be harvested, bean stocks are nearly depleted in São Paulo and Goiás, a traditional packaging center, has seen a shift to the domestic market, resulting in higher prices for quality beans. With the upcoming end-of-year festivities, there is anticipation of increased buying pressure and demand, which could impact market prices.

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

Original content

The carioca bean market remained stable, according to the CEPEA/CNA index, which indicated stable prices in the main producing regions. Last Tuesday, sales exceeded the volumes recorded in the last ten days, reflecting the greater demand for the product. The difficult weather in São Paulo, which compromised the quality of the harvest, led packers in the state to seek offers in Minas Gerais, which resulted in an increase in demand for carioca beans, especially the grade 9 variety, whose prices varied between R$245 and R$250. With the new crop about to be harvested, bean stocks are practically exhausted, a situation that is not limited to São Paulo. In Goiás, traditionally an important packaging center, foreign sales have practically ceased, and business has now focused on the domestic market. This has led to a peculiarity: the prices of better quality beans in Goiás are already approaching those in Minas Gerais, due to the exemption of ICMS on ...

Source: Portal Do Agronegocio