Argentine Declares Force Majeure

VANCOUVER - Jul 6/13 - SNS -- International dry edible bean markets finished the week's trading on an unusually strong note, with export asking prices from most origins climbing sharply.

Markets were strongly influenced by the declaration by the Camara de Legumbres de la Republica Argentina (CLERA) that this year's crop failure constitutes a 'force majeur' condition which prevents producers and sellers meet delivery commitments.

In a statement to CICILS, the association said, "A relevant portion of the seeded areas are not going to be harvested at all, and the remaining lots which would not worth spending the recollection costs in a normal year, are being harvested with an extremely poor average yield per hectare.

"All farmers and operators report same dramatic picture. After Province of Salta decree of agronomical emergency, the Province of Jujuy added its own,

"There is a big effort under progress to collect and preserve the seed to guarantee next season. Till now, same it is not assured.

"What it is far from any doubt is the fact that the present season is the worst suffered ever by the Argentine bean origin.

There is no available history of a drought as damaging, widespread and persistent as this one.

"All of above allow us to say without a doubt that the events constitute the status of ' force majeure ' which prevents producers and sellers meet delivery commitments this campaign.