Chinese pulses market is slowly recovering
BEIJING. Demand in the Chinese dried beans market is slowly recovering, but the price development is strongly dependent on the quality of the goods. Meanwhile, the problematic transport situation seems to be easing further.
More significant acreage for black kidney beans is possible.
After the decline in recent months, black kidney bean prices have now held their level for several weeks. Chinese market players report that the goods available on the domestic market are now limited, which is stabilizing prices. Traders are currently reducing their stocks, and producers are processing according to orders and less in stock. Quality can vary now - conversely, this also applies to prices, which can differ depending on the supplier. Overall, however, business is satisfactory and more seeds for sowing are being sold than last year. Some market players conclude that the acreage could also increase compared to the previous year.
Few deals for red kidney beans
Chinese traders report sluggish demand for red kidney beans and slowly reduce their stocks accordingly. Prices are also showing a slight decline. Although exporters say that many overseas buyers are interested in their products, few deals are ultimately concluded, and they are increasingly focusing on the domestic market. The supply of high-quality goods is scarce, and prices vary depending on the supplier. As exports to the US are affected by high transport costs and tariffs, US buyers prefer to source their goods from South America; Chinese prices are not competitive in this case. Especially in the growing regions of Shanxi, farmers still report sufficient stocks, but even here, buyers are somewhat reluctant. (Mundus-Agri)
Traders do not want to pay high farm-gate prices for adzuki beans.
Chinese traders report that adzuki bean prices on the domestic market are primarily stable, while export prices slightly decline. In the growing regions, there is sometimes conflict between growers and buyers; farmers are raising their prices because cultivation costs have risen massively in recent months, while traders, in turn, are mostly unwilling to pay the higher fees. Again, stockists stock up as needed and rarely buy in advance.
And also for mung beans.
Domestic shipments in China have been taking place under challenging conditions in recent weeks due to tightened Covid measures. Some mung bean traders have had problems replenishing their stocks. This should now slowly improve, especially in Chifeng, Jilin, and Inner Mongolia. As with the other bean varieties, prices currently depend a lot on the quality of the goods. A large consignment of mung beans has arrived at the port of Quingdao, which traders are now gradually releasing for sale. Meanwhile, farmers started preparing the fields for the new sowing season. (Mundus -Agri)