Suspicions of price gouging in red bean prices

The average price paid by Salvadorean importers for a quintal (46 kg or 100 lbs.) of red beans is 45 dollars, but the price in the consumer market is 100 dollars.

Tuesday, June 17, 2008

The import declarations of several importers who bring red beans into the country has sparked suspicions in the Executive Branch of possible price gouging.
"If there is speculation, the only way to stop it is by warehousing more," said Mario Salaverría, Minister of Agriculture and Livestock.
Salaverría said the investigation has begun. "We are starting at once because we think the price includes a high level of speculation," he said.
The speculation may have been triggered by the State's intention to buy 100,000 quintals of beans.



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Help For Costa Rican Bean Marketing

February 2012

The Ministry will develop strategies, will intercede regarding for prices with industrial buyers and require producers to register all of their production.

The Deputy Minister of Agriculture, Xinia Chaves, promised bean producers in San Vito, Changuenas and Buenos Aires (south of Costa Rica) to help market their produce.

Restrictions on Bean Exports Maintained

January 2012

Nicaraguan producers say that despite government promises, there are still barriers to exporting about 25 million quintals of good quality grain.

Nicaraguan bean growers have reiterated that the authorities are still preventing the export of the grain, despite official promises to remove barriers, a situation that has gone on for several weeks now and is bringing losses to farmers.

Honduras Estimates Bean Production at 2.5 Million Quintals

April 2011

The Agriculture Ministry seeks to assure domestic bean supply, by sowing some 100.000 hectares per year.

A number of state and private banks opened credit lines for $53 million to assist small and medium farmers.

Additionally, $2 million from the Millenium Account will be earmarked for red bean production, explained Jacobo Regalado, Agriculture Minister.

Salvadoran Governments Asks Companies to Import Beans

September 2010

Facing a potential shortage of beans, the government will ask companies to import the product directly.

The Ministry of Agriculture and Farming (MAG for its acronyms in Spanish) doesn't have enough resources to import beans itself.

This shortage of shortage has been driving up the cost of the grain: "Silk Beans oscillate between $85 and $90 per quintal. A pound is paid $1,00 in the domestic market and it could reach $1.23."

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