DALIAN: Due to the intention of some grain merchants to ship, there are some low-priced sources of goods in the market circulation. The inventory of red beans in the domestic wholesale market is not large, and traders generally maintain quantitative inventory and replenish it as needed. The farmers who hold the goods are asking for high prices, and the purchase cost of grain merchants is challenging to reduce. However, due to the current poor demand, the enthusiasm of some grain merchants to purchase has declined, and there are phenomena of suspending or lowering the price of purchases. There are also differences in the shipping mentality of grain merchants, some are still holding on to the goods, and some are willing to clear the warehouse. Wholesale market traders replenish goods on demand, and most of them still resist receiving goods at high prices.
In terms of imports, it is expected that there will not be many red bean arrivals at the port next week, and we will pay attention to the actual import of red beans in Myanmar, Thailand, and other countries. On January 28, South Korea tendered 4,000 tons of red bean, which is still in the delivery period. We will pay attention to whether there is a new tender announcement in the middle and late of this month.
Current Market Price in China for Adzuki Beans
| Product Name | Chinese Adzuki Beans |
| Size | 5.0mm up |
| Purity | 99.95% |
| Moisture | 14.5% max |
| Package | 25kg paper bag |
| FOB Dalian | Usd2340-2370/mt |
| Delivery | 25 days after signing the contract |