U.S. Dry Bean Exports Off to a Slow Start in 2022

Exports are off to a bit of a slow start so far in 2022 compared to the explosive start of 2021. Every trade year has its own dynamics and we don’t expect identical performance from year to year. Some years things start slowly and then pick up, others start with fast export growth. The entire trade dynamic has been impacted heavily by an extended pandemic and then by supply chain disruptions and inflation. We do expect trade to top export destinations, Mexico and the Dominican Republic, to pick up. Additionally, with the suspension of the 25% retaliatory tariffs on imports to the EU, we are hopeful these markets will be satisfying new dry bean demand with U.S. imports. We are also hopeful that we can resume in-person trade servicing fully by Q2 2022 as this is critical to our success. Bottom line, we are not worried, but we will stay on top of the latest trade dynamics and keep you informed continually as always.

Source: USDA/FAS GATS