IndexBox, Inc. has just published a new report “World – Beans (Dry) – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
Dry bean Imports
In 2017, the number of beans (dry) imported worldwide totaled 3.6M tonnes, reducing by -6.8% against the previous year level. The total import volume increased at an average annual rate of +1.1% over the period from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations being observed over the period under review. The pace of growth appeared the most rapid in 2009 when import increased by 15% against the previous year level. Over the period under review, dry bean imports attained its maximum volume of 3.9M tonnes in 2012; however, from 2013 to 2017, it failed to regain its strength.
In value terms, dry bean imports stood at $3.6B in 2017. Overall, it indicated a strong increase from 2007 to 2017: the total imports value increased at an average annual rate of +1.1% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, dry bean imports decreased by -11.4% against its level of 2014. Over the period under review, dry bean imports reached its maximum level of $4B in 2014; however, from 2015 to 2017, it failed to regain its strength.
Dry bean Imports By Country
In 2017, India (588K tonnes), distantly followed by Mexico (215K tonnes) were the key importers of beans (dry), together achieving 22% of total imports. China (163K tonnes), the U.S. (148K tonnes), Brazil (139K tonnes), Pakistan (134K tonnes), Viet Nam (130K tonnes), the UK (123K tonnes), Italy (120K tonnes), Kenya (111K tonnes), Japan (107K tonnes), and Canada (103K tonnes) occupied the minor share of total imports.
India experienced a relatively flat trend pattern of beans (dry) imports. At the same time, China (+34.2%), Viet Nam (+31.1%), Kenya (+11.0%), Canada (+10.5%), Pakistan (+7.0%), Brazil (+3.7%), and Mexico (+2.8%) displayed positive paces of growth. Moreover, China emerged as the fastest growing importer in the world, with a CAGR of +34.2% from 2007-2017. Italy and the UK experienced a relatively flat trend pattern. By contrast, Japan (-1.4%), and the U.S. (-1.6%) illustrated a downward trend over the same period. Canada (-1.8%), Pakistan (-1.8%), Kenya (-2.0%), Viet Nam (-3.3%), and China (-4.2%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, India ($511M) constitutes the largest market for imported beans (dry) worldwide, making up 14% of global imports. The second position in the ranking was occupied by China ($194M), with the share of 5% of global imports. It was followed by Mexico, with the share of 5%.
From 2007 to 2017, the average annual rate of growth in terms of the value of dry bean imports in India totaled +2.9%. The remaining importing countries recorded the following average annual rates: China (+19.0% per year) and Mexico (+5.0% per year).
Dry bean Import Prices By Country
The average dry bean import price stood at $978 per tonne in 2017, going down by -3.3% against the previous year. Over the period from 2007 to 2017 it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2010 when it surged by 14% from the previous year level. Over the period under review, average import price for dry bean reached its maximum level of $1,101 per tonne in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.
Import prices varied noticeably by country of destination; the country with the highest import price was Japan ($1,687 per tonne), while Kenya ($372 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by Japan (+7.1% per year), while the other global leaders experienced more modest paces of growth.
Description
This report provides an in-depth analysis of the global dry bean market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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Media ContactCompany Name: IndexBox, Inc.Contact Person: Narmin BaazovaEmail: Send EmailPhone: +1-415-799-8701Country: United StatesWebsite: https://www.indexbox.io
