DALIAN: Market participants reported that the price of organic black kidney beans is still running at a high level this week. Due to the increase in rain and weather, new products are less on the market, the stock of old products is limited, and the high price operation continues. Currently, exporters’ pre-sale quotations are at US$1290-1330/ton, and some importers have begun small purchases.
Some exporters temporarily stopped quoting due to insufficient inventory. Centralized procurement will be carried out after the new products are fully listed and at stable prices. The market predicts that the cost of organic black kidney beans will not fluctuate in the short term, and there is little room for price decline later.
If ocean freight rates continue to fall recently, it can stimulate the export market, which is currently relatively sluggish. Exporters expect that shipping rates in the European and American markets will fall below US$5,000 from November to December. The United States, Mexico, and Venezuela are the primary buyers of black kidney beans.
Current Market Price in China for Organic black kidney bean
|Product Name||Organic black kidney bean|
|Package||25kg PP bag|
|Fob Dalian||Usd 1290-1330/mt|
|Delivery||20 days after the contract|
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