Global Black Bean Prices Surge Amid Supply Reduction

Global Black Bean Prices Surge Amid Supply Reduction

Mintec Global
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Market Dynamics

In response to reduced supplies in producing areas, black bean prices have surged globally. Grain merchants are refraining from selling at low prices and are only purchasing as needed. Offers from sales areas have followed the upward trend, while some traders with existing inventory are maintaining stable offers. Analysts at Zhuochuang Information anticipate further reductions in supply, potentially leading to slight price increases. Attention is also being paid to farmers’ planting intentions and seed purchase plans.

Supply Constraints Drive Price Increase

The reduction in supplies from key producing regions has created a supply-demand imbalance, pushing prices upward. Grain merchants are responding cautiously, preferring to hold onto their stocks rather than sell at current low prices.

Market Outlook

As the supply situation evolves, market participants are closely monitoring planting intentions and seed purchases by farmers. Any changes in these factors could further impact prices in the coming weeks. Additionally, fluctuations in global demand and trade patterns will continue to influence market dynamics.

The recent surge in black bean prices reflects supply constraints in key producing areas. Market participants are adjusting their strategies in response to evolving supply and demand dynamics, with careful attention to planting intentions and seed purchases. As the market continues to react to changing conditions, stakeholders will remain vigilant for further developments.

Current Market Price in China for Black kidney bean

Product  Name

Chinese Black kidney bean

Type

Small

Moisture

16% max

Package

25kg PP bag

Purity

99.5%

Loading

22mt /20GP

Conv. Fob Dalian

USD 1260-1290/mt – EURO 1162-1190/mt

Org.  Fob Dalian

USD 1330-1360/mt – EURO 1227-1254/mt

Delivery

20 days after the contract