Chinese Speckled Bean Production Lower than Projected

A recent report commissioned by USDBC from Fairman International Business Consulting on China’s bean planting notes that despite a relatively dry year, bean progress in all major Chinese regions is good but production is anticipated to be a bit lower this year. The most notable news is the reduction in speckled bean planting, which has dropped more than previously anticipated based on April planting intentions. The report predicts that most of last year’s light speckled kidney beans will be sold prior to the arrival of the new crop and the new crop will be short. The could mean a price correction and a favorable environment for other beans like pintos. For the US dry bean industry, this could also translate into increased competitiveness of our product into markets like Angola and India. Source (Fairman Business Consulting China Bean Crop Progress Report July 2015).

Image Source: Fairman International Business Consulting, bean planting areas covered for recent planting report.