China Bean Production Facing ChallengesNovember 22, 2019
China’s bean harvest runs from late August until late October/mid November. Due to rain in Southwest and North China and low temperatures in the north from July to September, the overall production of dry beans was a slightly lower than what industry projected at the China Pulse Conference held in August this year. The USDBC China market representative visited Heilongjiang, Inner Mongolia and Yunnan in mid September and early October and reports the following overall observations:
The supply of Purple Specked Kidney Beans (PSKB) in the northeast production area has declined over the past month. Traders have been slow to ship goods recently and quoted high prices.
In October traders were active purchasing light speckled kidney beans. Yield per acre in most of the northeast was lower than expected, traders are keeping more inventory and anticipate higher prices.
Orders for black beans to Costa Rica and Cuba have increased. Sowing area for black beans has declined significantly. Yield per acre down from last year.
The supply of Dark Red Kidney Beans (DRK) in the new season in north and northeast growing regions was limited, prices are high. In 2019, the declining production of other varieties has helped increase the domestic consumption. However, despite the fact that China’s domestic consumption plays the key role in the market, the market price will still be heavily influenced by export prices. The full report with additional details is available on our members only web page.Posted in: Bean Bulletin