Dry Bean Interest Lags Other Pulses

PANAMA - Feb 1/16 - SNS -- Land in pulses will be up significantly in Canada and the United States this year, but dry edible beans are not expected to join the party.

While prices paid to farmers in the United States and Canada for peas and lentils have been setting new record high levels, grower bids for dry edible beans languished until recently.

This is clearly reflected in the indices for U.S. and Canadian pulses. The U.S. index is heavily weighted toward dry edible beans and so far this season is down 13% over its 2015-16 average. By contrast, the Canadian special crop price index, which is more heavily weighted toward peas and lentils, is up 4%.

This has created a bias in favor of peas and lentils over dry edible beans in areas where farmers have a choice. However, dry edible beans should see some recovery in interest from growers based on optimism about Mexican and Brazilian demand.