Stabilization of bean prices in Brazil: Producers maintain resistance in the market

Published Jul 31, 2024

Tridge summary

Producers in the Brazilian bean market are refusing to sell carioca beans at prices below R$230 per bag, due to increasing costs and lack of adequate compensation. This has led to buying difficulties for buyers. The current harvest has not yet increased supply, and producers are waiting for better market conditions to sell. In July, bean sales reduced by 5% in several Brazilian regions due to school holidays and advanced purchasing by consumers. Similarly, black bean producers are also reluctant to sell at offers below R$260/270 per bag. The kidney beans market is more stable due to export contract deliveries, which ensure constant demand.

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

Original content

In the bean market, producers are firm in not selling carioca beans at prices below R$230 per bag. This stance reflects the perception that values below this level do not adequately compensate for the rising costs of inputs and agricultural operations. On Monday, buyers found it difficult to purchase carioca beans at the prices offered. The current harvest has not yet generated a significant increase in supply, and many producers prefer to wait for better market conditions before selling their lots. This retention strategy aims to obtain more favorable prices in the near future. During the month of July, packers noticed an average reduction of 5% in sales in several regions of Brazil. This decrease is attributed to two main factors: school holidays, which normally reduce domestic consumption, and greater advance purchasing by consumers in the months of May and June. This movement was driven by fears of a possible shortage of beans on the market, resulting in high stocks and, ...

Source: Portal Do Agronegocio