Price of Red Beans Go Up in the Region

In Nicaragua, the largest producer in Central America, the price of a metric ton increased from $602 in May 2013 to $1676 in May this year.

Friday, May 9, 2014

Of the 'seda' variety of red beans, the countries with the largest price increases are El Salvador and Nicaragua, with increases of 80% and 178%, respectively. Guatemala reports a 130% increase in the 'rojo tinto' variety of red beans, according to the Agricultural Council (CAC).

"Agustín Martínez, president of the Farmers and Agribusiness (CAMAGRO), said the market is being influenced by two factors: first, that the inventory of the previous local harvest has started to decline, and second, that Nicaragua has chosen to increase the production volumes of black beans for export to Venezuela. 'In Central America availability is reduced, in Nicaragua, and El Salvador inventories have been being consumed,' he said. "

"Amy Angel, an expert in agricultural issues, also posted on her blog that "there is no evidence that there is hoarding, which would have to be coordinated by multiple agents in three different countries,' this is more a case of 'short supply'" reported Laprensagrafica.com."

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