Posts

Promising Niche Market Opportunities in Peru

The U.S. Dry Bean Council recently concluded a fact-finding mission to Peru. U.S. agricultural exports to Peru increased from $424 million in 2008 to $1.3 billion in 2018. Currently, the U.S. is the largest agricultural product supplier with 31 percent market share. About two-thirds of U.S. agricultural goods enter the country duty free, including dry beans. In marketing year 2017/18, the U.S. exported 4,147 metric tons of dry beans to Peru. This is due primarily to lower Peruvian dry bean production and increased demand for navy beans for food assistance programs, which drove up U.S. exports.
 

Weekly Dry Bean Market News

According to USDA’s Weekly Market News, trading activity remains slow for dry edible beans with very light demand. Contract product is moving steady. Grower prices for all classes of dry beans remain unchanged from one week ago. View the report here.

Mexico Dry Bean Sales are Slow

Dry bean traders in the different Mexican markets consider the economy, in general, is very slow. With slow sales, there is therefore more dry bean product in storage than expected. This is not allowing for regular trading flow, and reportedly payments for imported beans have been delayed.
 
Mexico Imports from January to April 2019
  • Mexico’s accumulated bean imports from all origins totaled 35,573 metric tons, with a value of $27,611 ,060 U.S.
  • From these, 31,323 MT were U.S. beans with a value of $23,559,075 U.S.
  • Since January 2019, 18,297 MT of U.S black beans, 9,979 MT of U.S pinto beans and 3,047 MT of U.S white beans have been imported by Mexico.

Weekly Dry Bean Market News

Compared to a week ago, trading activity was slow with very light demand. Contract product is moving steady. View the report here.

Dry Bean Council Meets with Cuban Officials

The U.S. Dry Bean Council, along with representatives from other agricultural trade groups, met with Ambassador Carlos Fernandez de Cossio, General Director for U.S. Affairs for Cuba’s Foreign Ministry, in Washington DC earlier this month.
 
Despite the renewal of several regulations limiting trade with Cuba, Cuba remains interested in engaging with U.S. entities whose commercial activities are still permitted by regulations. Fortunately, those regulations remain favorable to agriculture.
 
For the first time, the 2018 Farm Bill included language allowing for the use of marketing funds granted under the MAP and FMD programs to conduct trade development activities in Cuba. USDBC will continue to provide updates on this opportunity as it develops.

Weekly Dry Bean Market News

Compared to a week ago, trading activity was slow with very light demand. Contract product is moving steady. Mexican peso per U.S. dollar exchange rate is 18.87.
 

Weekly Dry Bean Market News

Compared to a week ago, trading activity was slow with very light demand. Contract product is moving steady.
 
North Dakota is reporting weather issues effecting processing and getting rail cars.The Pacific Northwest is out doing field work, according to report contacts.
 

USDA Market News

Trading activity was slow with very light demand. Contract product is moving steady. Mexican peso per US dollar exchange rate is 19.1704.
Weekly Dry Bean, Pea and Lentil Market News