USDBC Debuts Argentina Planting Intentions ReportMarch 17, 2017
Due to the growing importance of Argentina in global bean trade coupled with increased U.S. dry bean interest in new market opportunities in Latin America, this year USDBC conducted its first planting intention survey. 2016 was a good year for Argentine bean growers with prices up 50% and exports up almost 70% due to Brazil’s sharp drop in dry bean production in 2016 coupled with a poor Chinese harvest. Prices have now declined as Brazil’s first 2016/17 harvest finished with an estimated 1.4 MMT, an increase of 36% compared to last year (Conab estimate). Argentina’s bean market is almost completely export dependent, sending 97% of production to other countries.
Our field survey covered over twenty growers covering an estimated 24,000 hectares in Northwestern Argentina. Due to weather, planting was delayed in much of the area covered thus our projections largely reflect farmer intentions. Overall our data reflects a slight increase in planting area from just under 400,000 hectares in 2016 to around 410,000 hectares in 2017. Most dry bean farmers save seed from previous year’s crop (if good quality) to plant the following season or purchase from other growers or processors. Seed prices in mid- February were quoted at $1,200/MT (black beans); $1,600 to $2,000 for alubia beans;$1,000 to $1,200 for red kidney beans and light red kidney beans; $1,000 for mung beans; and $2,400 for cranberry beans (cranberry beans are sold out). Dry weather conditions could have an impact on the total acreage for the current bean campaign. We will continue to provide regular updates on the Argentine bean crop and keep the industry posted on any relevant news. The full planting intentions report, with data by bean class, is available to members of USDBC and will be posted on the members only section of our website.Posted in: Bean Bulletin