Ask The Experts/
Red and Speckled Beans Panel

Positive Outlook for Red and Speckled Beans 

Increased global demand for red and speckled beans creates new opportunities for exporters.

The COVID-19 pandemic has boosted worldwide demand for pulses as people stock up on shelf-stable foods in preparation for extended homestays. The pandemic has also accelerated the consumer trend away from animal protein and towards plant protein.

The increase in red and speckled bean consumption was one of the topics of discussion at the Global Pulse Confederation’s (GPC) Ask the Experts webinar on the global market outlook for red and speckled beans.

Panel of Experts

The red and speckled bean webinar was moderated by Katia Sambin of Chippewa Valley Bean and featured guest analyst Dr. Randall Fairman of Fairman International Business Consulting. The panel of international experts included: Matías Macera of Desdelsur S.A. (Argentina); Marcelo Lüders, president of IBRAFE (Brazil); Felipe Sandoval of BeGrait (Mexico); Tewodros Yilma of Alpha Trading Partners (Ethiopia); Weihua Meng of Nanjing Bonagro International Trading (China); and Alejandro Leloir of the U.S. Dry Bean Council (representing Central America).
 

Production

The panel pegged annual worldwide production of these bean types at 1.7 million MT. North America is the leading producer, with an average pinto bean crop of 900,000 MT, followed by Central America, with typical annual small red bean production of 450,000 MT. In South America, the big producers are Brazil, which produces 3 million MT of carioca beans a year, and Argentina, which exports cranberry beans and light and dark red kidney beans.    

Supply-Demand

The experts emphasized a notable increase in global bean consumption due to the COVID-19 pandemic. In the case of canned beans in the U.S., consumption increased 200%. This increase is expected to level out but remain high for the next several months as consumers opt for economical sources of protein while national economies recover. This increase in demand combined with below average production due to challenging weather conditions at several origins has lifted bean prices considerably.

Exports

The increased demand will see exports curtailed as key origins redirect inventories to satisfy internal demand. This is the case in North America and in Nicaragua, a major supplier of red beans for the Central American region. Argentina is a notable exception in this regard; because its internal consumption is miniscule, even in the face of the pandemic, practically all of its production remains available for export.  

The panel also noted China’s shift in recent years from a major bean exporter to a net importer. As the Asian Giant’s appetite for bean imports grows, the world’s bean suppliers will need to find a way not only to meet the demands of a market of 1.4 billion people but also to fill in behind China as it withdraws from its export markets.  

Upcoming GPC Ask the Experts Webinars

The GPC’s Ask the Experts series was launched in April and features discussions among pulse industry experts about hot topics of interest to the global pulse trade. Upcoming editions include: 

• June 4 – Dry Peas Global Outlook
• June 11 – Black Matpe, Pigeon Pea and Mung Bean
• June 18 – Black Beans Global Outlook
• June 25 – Adding Value to Pulses
• July 2 – White Bean Global Outlook

These weekly webinars are available to GPC members only. To become a member and enjoy this and other membership benefits, click here.

 Recording is only available in Spanish due to technical difficulties with English version.