KUNMING – Export markets, according to feedback from producers in Yunnan provinces, are in trouble this week. Overseas importers are mostly inquiring new crop goods, with no actual orders.
Although the price of large white kidney beans fell by USD 150 a tonne during the last couple of weeks, buyers could not accept such prices. The shipping costs bear the cost of USD 400 per ton which has a huge impact.
Forecast show that new crop prices will be around USD 1.600-1.650 per ton. If North Korea’s large white kidney beans enter the Chinese market in November, then the price of domestic large white kidney beans will be further reduced, so that Chinese high-quality large white kidney beans are mainly in the high-end market.
Producers predict that prices will not change until new goods come into the market.
Current market price in China for large white kidney beans
|Product Name||Large white kidney beans|
|Package||25kg PP bag|
|FOB Dalian||USD 1.710 /mt|