GPC Pulses 2.0/
Black Beans Panel

During the initial onset of the COVID-19 pandemic, black bean consumption spiked as panicked consumers cleared out store shelves ahead of national lockdowns. But now, currency devaluations, high prices and the lack of work has slowed down bean consumption in Latin America, while in the U.S. demand has slowed in anticipation of 2020 crop production and because of reduced food service sector business resulting from COVID-19.

How might demand evolve moving forward? On the supply side, dry conditions affected Argentina’s black bean crop; yields were below average and seed size was smaller than usual.

In Canada, Manitoba seeded more black beans than originally anticipated.

In the U.S., Michigan’s black bean crop is looking good, but rains have interfered with the start of harvest.

In North Dakota and Manitoba, an early frost hit the crop on the nights of September 7 and 8, raising concerns about crop losses and reduced yields. And in Mexico, growers finished planting their black bean crop in August. How much production will be coming down the pipeline from each of these origins?

For the latest on the black bean trade, join us for Pulses 2.0’s Black Beans Global Outlook panel, featuring the participation of industry insiders from around the world:

• Joe Cramer of the Michigan Bean Commission (moderator)
• Samuel Peck of Jack’s Bean Company (analyst)
• Pancho Gutierrez of Grupo Agro (Mexico)
• Nicolas Karnoubi of OLEGA (representing Argentina)
• Eduardo Balestreri of Arbaza (representing Brazil)
• Alejando Leloir of the U.S. Dry Bean Council (representing Central America)
  
  
  

Due to time constraints we were not able to answer all questions. Eduardo Balestreri from Arbaza shared later the answers to the questions posted about current conditions in the Brazilian market. 

This year, until August, Brazil has imported around 44.000 tons of Black Beans from Argentina, when comparing it with the same period of 2019, where 78.000 tons were imported, is a big reduction.

About the prices, nowadays the market is around USD800 to USD850/MT in the border Brazil x Argentina and the price in our biggest market (São Paulo) is almost the same price, so because of that the importations have been smaller.

In relation to the greatest prices of Soy (about the question of the planting of Soy), it’s really with a great price but the black beans also is, so we believe that the planted area will be similar to last year, were it could rise up 10% or fall down 10% but no more than that, its still early to affirm that but its our expectation.