October 5, 2020
In Australia, with harvest still months away, ABARES estimated the country’s 2020 faba bean production at 418,000 MT. That would be a 28% increase over last year.
In Australia, with harvest still months away, ABARES estimated the country’s 2020 faba bean production at 418,000 MT. That would be a 28% increase over last year. In the Baltic region, September estimates pegged production at 275-300,000 MT, up 10% from last year. In the United Kingdom, however, early indications point to disappointing quality and yields.
On the demand side, Egypt, the world’s top faba bean importer, is out of the market, at least for the short-term, as it works through existing supplies. In recent years, the country has had issues with imports due to limited foreign currency reserves; the COVID-19 pandemic has only worsened that situation. Feed market demand may be strong this year as prices on alternatives like soybean meal have been trending upward, as have corn futures.
What might the world supply-demand situation look like in 2020/21? Will Egypt return to the market? Will faba bean prices be competitive in feed markets?
A panel of knowledge industry-insiders will tackle these and other questions during the Faba Beans Global Outlook session at Pulses 2.0:
Francois Darcas / Australia / Randy Duckworth / Andy Bury / UK / Mufaddal Saifudin / Egypt / Jean Louis Lamau / France
Disclaimer: The opinions or views expressed in this publication are those of the authors or quoted persons. They do not purport to reflect the opinions or views of the Global Pulse Confederation or its members.
