Interest in Beans Soars
PANAMA - Aug 12/20 - SNS -- Farmers in the United States increased land in beans in response to solid improvements in demand for dry edible beans stemming from panic buying in the early weeks of the COVID-19 coronavirus pandemic.
By March, processors, packagers and canners began reporting significant increases in spot demand for beans and other pulses as the retail industry worked to restock depleted inventories on store shelves. By May, companies such as Goya Foods were reporting a 400% increase in sales volumes of canned beans over the same period last year.
The net effect was farmers in the United States felt encouraged to plant 1.692 million acres of beans instead of the 1.427 million they initially intended. Plantings last year were just under 1.34 million, while the recent five year average stands at 1.41 million acres.
Only active subscribers can read all of this article.
If you are a subscriber, please log into the website.
If you are not a subscriber, click here to subscribe to this edition of the STAT website and to learn more about becoming a subscriber.
