USDBC to Stay the Course in Brazil Marketing ActivitiesJanuary 17, 2017
Based on USDBC’s own informal survey of the market, we project that production will be lower than Conab’s forecast. Reports are already surfacing that weather conditions, including extreme heat, have reduced yields. We are continuing to monitor Brazilian bean market conditions and run promotional activities around the country. During the period September 1 through November 2016, Brazil imported 4,820 MT of U.S. dry beans, nearly ten times total imports of U.S. dry beans for the entire 2015-16 marketing year and 99% more than the amount imported during the same 3-month period a year ago (Global Trade Atlas). The U.S. Census Bureau reported that U.S. black bean exports to Brazil in the same period reached 7,253 MT, making Brazil one of the top-ten destinations for U.S. dry beans in 2016-17. USDBC is in the process of finalizing our work plan for this new dynamic market for 2017.