THE BIG PICTURE
Surplus to success Brazil loves its black beans – over the last three years it averaged a consumption of approximately 560 KMT every year . Domestic consumption is typically covered domestically – a long established dynamic. But in 2023/24, Brazil produced a whopping 711 KMT over the course of its three harvests, which, in spite of Brazil’s hefty domestic demand, could present the issue of an oversupply and a dampening effect on farming intentions. A plan was required to ensure stability. Back in March of this year, Marcelo Luders, President of the Brazilian Institute of Beans and Pulses (IBRAFE), addressed the bean production surplus ahead of the second harvest, recognising that oversupply could cause farmers to move away from beans in future, and calling for a move into exports: "To shield Brazilian consumers from soaring prices and the scarcity, it
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