The dry bean planting season in Mexico has not begun, but once it does the U.S. Dry Bean Council will provide crop updates. In the meantime, a few considerations reported from the USDBC Mexico City office will help determine the supply demand equation in the year ahead.
According to market intelligence in Mexico, there are no real changes to planting surface for dry beans.This comes despite efforts to achieve greater self sufficiency through the “Beans for Mexico” program. Based on information from the Mexican Agricultural Agency (SADER/SIAP), total planting intentions for the upcoming cycle is 1.47 million hectares, almost the same as last year. Retail bean prices have been very high as people are stocking up during the pandemic. This is a change from the downward trend noted in consumption of beans.The dollar/peso exchange rate is up 26 percent to 24 pesos to the dollar.
