Kidney beans, Market update
France is sold out of beans, and it is difficult to convince farmers to plant due to technical impasses, high prices of other crops, and uncertainty about the availability and cost of water for irrigation.
Canada is mainly sold out, and there is uncertainty about the 2023 crop, with farmers not committing volumes for sale in hopes of increasing prices.
In the USA, the 2022 harvest has not been bad, and the 2021 carryover is not so low, but rumors suggest a decrease in planting, particularly for red kidney beans. A colossal call for tenders from the US food aid program for over 90,000 MT has put pressure on the market for all small beans.
Argentina is almost sold out for the 2022 alubias crops due to massive and unexpected demand, particularly from food aid programs for the Middle East and tenders from the Algerian government. Prices are very firm, and there is little willingness to sell on the new crop due to the lack of rain, leading to a "weather market.