Adzuki beans: Waiting for Korea

DALIAN – According to the Chinese customs statistics of May 2021, there were no arrivals of red adzuki beans from North Korea.

Market participants report that in Jilin and Liaoning regions, the short-term border trade is low. The lack of North Korean red beans imports impacts the whole adzuki beans market, which is still dominated by domestic products. Some grain merchants in the production areas are still waiting for the domestic demand to recover or at least some tenders from South Korea, which will support the continuous high price of adzuki beans in the short term. Considering that the latest delivery time of the last South Korean tender was before the end of June, there may be a new Korean tender announcement in July according to the bidding rules of previous years.

However, this year, the situation is relatively special due to the high domestic price and the international epidemic, and other factors, so it’s necessary to pay attention to the actual tender announcement for specific circumstances. On the other hand, the adzuki bean planting area increased this year which should put pressure on the price. The specific data will be published in the next weeks. With the promotion of the new crop beans marketing time in July and August, it is necessary to pay more attention to the shipping mentality of bean merchants. However, the high sea freight prices will be a headache for exporters and international customers.

Current market price in China for adzuki beans

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