DALIAN – According to market participants in China, the producers and exporters received some organic red kidney beans inquiries during the last few days. There is some interest mainly from food factories, canneries, and traders for new crop 2021. The customers come from the USA but also several European countries such as Italy, France, Netherlands, and the Czech Republic.
Chinese exporters predict that the export prices of new goods will be affected by the global pandemic and export situation. They expect an initial price for the new crop beans in a range between USD 1.350 to USD 1.450 per ton FOB China, which is much lower than the current price of USD 1.780 /mt.
The new crop price would be interesting for the buyers under one condition: If the shipping market improves in October, the organic Dark Red kidney beans export market will improve. The pre-sale of new goods will start in September. Exporters all want to seize their market share and advance to take more orders. So far, they are full of confidence and hope for the sea freight prices to decrease during the next three months.
The current market price in China as below:
|Product Name||Organic red kidney beans|
|Package||25kg paper bag|
|FOB Dalian||USD 1.780/mt|