Dalian, China – The market for British red kidney beans in the Dalian production area remains stable this week, with reference prices for export-standard beans holding steady at $2,370-$2,400 per tonne. Despite the stability in prices, supplies are very scarce as the grain purchase and sales season comes to an end.
Market Conditions
Scarce Supplies
The production area for British red kidney beans is experiencing a scarcity of supplies. As the season concludes, only a few manufacturers have limited inventory available. These manufacturers are selling at low prices to clear their remaining stock.
Steady Prices
The reference price for export-standard British red kidney beans has remained stable compared to the previous week, holding at $2,370-$2,400 per tonne. This stability is notable despite the limited supply.
Downstream Market Dynamics
On-Demand Procurement
Traders in downstream sales areas are purchasing on-demand, driven by current market conditions. The domestic market demand is characterized by selective buying, with traders picking and selling based on immediate needs.
End-of-Season Sales
With the grain purchase and sales season winding down, the market is seeing a reduction in available inventory. This end-of-season dynamic is contributing to the scarcity of supplies and influencing sales strategies.
Future Outlook
Expected Expansion in Planting Area
Looking ahead to 2024, the planting area for British red kidney beans is expected to expand significantly year-on-year. This expansion is anticipated to support an increase in production and a recovery in capacity.
Factors Influencing British Red Kidney Bean Prices
- Supply Scarcity: The current scarcity of supplies is a primary factor maintaining price stability despite potential upward pressure.
- End-of-Season Dynamics: As the grain purchase and sales season ends, limited inventory affects market conditions and pricing strategies.
- Demand Patterns: On-demand procurement by traders reflects a cautious approach to buying, impacting overall market activity.
- Future Production: The expected expansion in the planting area for 2024 suggests a potential increase in supply, which could influence future prices and market stability.
Monitoring these factors will be crucial for stakeholders in the British red kidney bean market to navigate the current conditions and anticipate changes in the upcoming season.
Product Name |
Dark Red Kidney Bean |
| Type | Shanxi type |
| Size | 190-210pcs/100g |
| Moisture | 16% max |
| Package | 25kg paper bag |
| Purity | 99.5% |
| Loading | 22mt /20GP |
| Conv. Fob Dalian | USD 2360-2390/mt – EURO 2186-2214/mt |
| Org. Fob Dalian | USD 2410-2440/mt – EURO 2232-2260/mt |
| Delivery | 20 Days after the contract |