Record High Prices for White Kidney Beans

Exporters in Yunnan report that the price of large white kidney beans has reached record levels. This price surge has led to an increase in production halts and sales stoppages, with long-time customers continuing to purchase while some buyers wait for new supplies.

Impact of Foreign Market Restrictions

If foreign large white kidney beans remain unable to enter the Chinese market, the price of new goods is unlikely to decline significantly. European buyers, in particular, find it challenging to accept the current high prices and are largely waiting for new supplies.

Domestic Market Demand Supports Prices

Due to the scarcity of supplies and the high price of white kidney beans in the production area, domestic market demand continues to support these elevated prices. New supplies are anticipated to be harvested in November, which could influence future pricing trends.

Export Quality Standards and Price Outlook

Export quality standards for large white kidney beans are quoted at more than $3,480 per tonne. Given the current market conditions, prices are not expected to fall in the short term.

The current situation in the Yunnan white kidney bean market underscores the complexities of agricultural trade and pricing. High demand, limited supply, and market restrictions contribute to the record prices seen today. As both domestic and international buyers navigate these challenging conditions, the upcoming harvest in November will be closely watched for its potential impact on prices and market dynamics.