Market Snapshots: October 2016 Issues

Market Snapshots: Issues that we’re following…

-The Indian Monsoon has returned to a healthy level this year. Indian pulse production is expected to hit 7.25 MMT for the Kharif harvest (first harvest), an increase of 1.5MMT over last year. Despite the anticipated healthy pulse crop, India still expects to import 3.4 – 4 million MMT of pulses in 2016-2017.

-China’s 2016 dry bean harvest is estimated as follows:

Lima Beans 30,000 Tons
Dark Red Kidney 28,000 Tons
XINJIANG Cranberry 8,000 Tons
Purple Speckled + Red Speckled 50,000 Tons
HEILONGJIANG Cranberry 8,000 Tons
Light Speckled Kidney 50,000 Tons
Navy Bean 8,000 Tons
Other White Beans 10,000 Tons
Black Beans 28,000 Tons
Total Bean Production 220,000 Tons

Every category, except for purple speckled and kidney beans is below half of ten-year historical production numbers.
(source: Fairman International Business Consulting)

-Brazil will extend the zero tariff on dry bean imports from outside Mercosur for another three months.