Beans Hold Firm Tone
PANAMA - Apr 16/16 - SNS -- International dry edible bean markets maintained their firm tone through the past week.
Expectations of good demand from Mexico and the belief there will less competition than initially expected in export markets helped the U.S. beans to advance 0.5 points higher to finish the week at 144.4.
By contrast, the world pulse price index jumped 3.4 points to finish at 238.9, for the ninth week in a row that it has established a new record high. In the meantime, the Canadian index gained 3.5 points to close at 240.7, behind its record high of 254.9, set in 2008.
Seeding of this year's crops is underway in Argentina. Processors and exporters expect farmers to plant 125,000 hectares of white alubia beans; 160,000 hectares of black beans; 25,000 hectares of cranberry beans; and 25,000 hectares of light and dark red kidney beans.
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