Latest Pulses & Lentils Market Review - April - Part 2
The market for white remains relatively steady, while the market for red and black continues to firm due to limited supply.
Prices Remain Stable - Mung bean prices in China have remained stable, although prices in other origins have remained stable. Myanmar mung is in high demand in India, China, and the rest of the world. Myanmar has increased production in preparation, but the market will remain tight this season. The crop has also been delayed by around 2-3 weeks in some areas due to late monsoon rains.
Red Kidney Beans
The market for red kidney beans has continued to rise, with all Canadian product now sold out. The industry's most pressing question is whether growers can plant enough to satisfy rising demand. The situation remains worrying, as many farmers choose to plant Corn and Soya in order to benefit from higher returns. If farmers are late planting corn and soya, we can see a turn toward DRK, but only time can tell. Expect prices to remain stable.
In the United States Limas have all been sold, and with Polish growers still demanding higher prices, expect little relief in the coming months. Peruvian materials appear to be a successful investment.
Although the demand remains stable, good packaging quality remains scarce. The new crop business has closed at attractive prices.
The Peruvian demand has remained unchanged, but with very little stock remaining at origin, supply is expected to remain tight in the coming months.
Myanmar continues to face political difficulties, and while it is still too early to tell how things will turn out, shipments are beginning to travel, although slowly.