Dried shelled beans market in Latin America and the Caribbean

Earlier Report Observations

The Latin American dried shelled beans market volume began the period at 5.8 million tons in 2018. A decline to 5.5 million tons followed in 2019, a year marked by growing global bean consumption which increased export demand, while production contracted in key regions. Recovery started in 2020 as the market volume rose back to 5.8 million tons, supported by record-high international wholesale prices for beans like pinto in the U.S., which incentivized production and export activity.

Market growth accelerated in 2021, with volume reaching 6.1 million tons. This expansion was primarily driven by the introduction of new, more productive bean varieties such as Jamapa, developed by agricultural authorities to improve yields, soil adaptation, and pest resistance. The subsequent downturn in 2022, which saw volume fall to 5.6 million tons, was directly caused by severe and persistent droughts in major Mexican producing states like Zacatecas and Durango, significantly reducing planted area and harvests.

In 2023, the market volume stabilized at 5.5 million tons. Ongoing production challenges from drought conditions continued to limit supply, keeping prices elevated. During this period, the Mexican government's increase in the guaranteed price for beans, implemented to support rural incomes and food self-sufficiency, began to influence market conditions as a stabilizing policy measure.

Production dried shelled beans in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of dried shelled beans, 2017-2020

World map of production of dried shelled beans, 2017-2020

After two years of decline, dried shelled bean production in Latin America and the Caribbean has rebounded. In 2019, production hit its lowest point at 5 687 thousand tons, representing a 5.8% decrease. The following year, in 2020, output rose to 6 036 thousand tons, marking a 6.1% increase from 2019.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following a two-year downturn, the value of dried shelled bean production in Latin America and the Caribbean has turned upward. In 2019, production value reached its minimum at 7 646 million US dollars, after an 11.8% decline in 2018. By 2020, the value had climbed to 9 157 million US dollars, a 19.7% increase from the previous year. Over the 2017-2020 period, production value fell by 6.4%, with an annualized growth rate of 2.2%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports dried shelled beans from Latin America and the Caribbean

Exports in kind, K t

Dried shelled bean exports from Latin America and the Caribbean have grown for the third year in a row. In 2020, the region exported 717.9 thousand tons, a significant 10.9% increase from 2019. From 2017 to 2020, exports surged by 80.7%, averaging an annual growth rate of 21.8%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, dried shelled bean exports from Latin America and the Caribbean were distributed relatively evenly across destinations. India accounted for 9.9% of exports, the United States for 6.7%, and Vietnam for 5.9%, with these three countries together making up just 22.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

The value of dried shelled bean exports from Latin America and the Caribbean has risen for the second consecutive year. In 2018, export value dropped to 580.8 million US dollars, a 4.3% decline. It then rebounded in 2019 with a 16.0% increase, reaching 765.1 million US dollars in 2020, up 13.6% from 2019. Over the 2017-2020 period, export value grew by 26%, with an annualized rate of 8.0%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, the value of dried shelled bean exports from Latin America and the Caribbean was spread across numerous countries. The United States accounted for 9.0% of export value, India for 7.0%, and Spain for 6.1%, with these three together comprising only 22.1% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports dried shelled beans to Latin America and the Caribbean

Imports in kind, K t

Dried shelled bean imports into Latin America and the Caribbean have increased for the second year running. In 2018, imports fell to 388.6 thousand tons, a sharp 25.7% decline. They then rose by 15.3% in 2019, reaching 460.8 thousand tons in 2020, a 2.8% increase from 2019. Over the 2017-2020 period, imports decreased by 11.9%, equivalent to an annualized decline of 4.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States dominated dried shelled bean imports into Latin America and the Caribbean, accounting for 33.8% of imports by volume. China followed with 9.0%, and Canada with 4.0%, with these three countries together making up 46.8% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

After two years of decline, the value of dried shelled bean imports into Latin America and the Caribbean has recovered. In 2019, import value dropped to 490.0 million US dollars, a 10.6% decrease. In 2020, it surged to 665.0 million US dollars, a 31.6% gain from 2019. Over the 2017-2020 period, import value increased by 13.1%, with an annualized growth rate of 4.2%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

During 2017-2020, the United States was the leading supplier of dried shelled beans to Latin America and the Caribbean in value terms, accounting for 38.6% of imports. China contributed 9.7%, and Canada 4.2%, with these three countries together representing 52.5% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020