Dried shelled beans market in Nicaragua

Earlier Report Observations

From 2018 to 2022, Nicaragua's dried shelled bean production increased steadily from 197.2 thousand tons to 219.9 thousand tons, while the domestic market volume fluctuated, peaking at 136.4 thousand tons in 2021. This period was marked by a sustained upward trend in bean prices that began in 2018, providing an incentive for expanded cultivation. By 2022, the average price had nearly doubled compared to earlier years, reaching 36.12 córdobas per pound, which likely moderated consumption growth.

The market shifted abruptly in 2023 when the El Niño weather phenomenon brought scant rainfall and high temperatures, reducing crop yields and slashing production to 177.4 thousand tons. Consequently, the domestic market volume contracted sharply to 83.0 thousand tons, reflecting the direct impact of adverse climate conditions on supply.

High local prices, which remained above international levels throughout 2023 and into 2024, continued to constrain access for domestic consumers. The ongoing effects of El Niño further pressured production and prices, highlighting the market's sensitivity to climate variability.

Production dried shelled beans in Nicaragua

In kind, 2017-2020, K t

Top producers of dried shelled beans, 2017-2020

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

In 2020, Nicaragua produced 210.9 thousand tons of dried shelled beans, marking a 7.1% increase from the previous year. Over the period from 2017 to 2020, production grew by 9.1%, with an average annual growth rate of 2.9%. The most significant decline occurred in 2019, when production fell by 0.1%.

Annual dynamics of production in Nicaragua in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of dried shelled bean production in Nicaragua reached 248.1 million US dollars, up 23.4% compared to 2019. From 2017 to 2020, production value increased by 25.7%, with a compound annual growth rate of 7.9%. The largest drop was in 2019, with a decline of 1.6%.

Annual dynamics of production in Nicaragua in value, 2017-2020, M $ US

Exports dried shelled beans from Nicaragua

Exports in kind, t

In 2020, Nicaragua exported 96 943 tons of dried shelled beans, a 30.2% increase from 2019. Between 2017 and 2020, export volumes rose by 33.8%, averaging 10.2% growth per year. The most notable decrease was in 2019, when exports fell by 4.1%.

Annual dynamics of product's exports from Nicaragua in kind, 2017-2020, t

From 2017 to 2020, the main destinations for Nicaragua's dried shelled bean exports were Costa Rica, accounting for 29.0% of export volume, El Salvador at 27.8%, and the United States at 18.5%. Together, these three countries made up 75.3% of total export volume.

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

World map of product's exports from Nicaragua in kind, 2017-2020

Exports in value, M $ US

In 2020, Nicaragua's dried shelled bean exports were valued at 114.0 million US dollars, showing a sharp 50.0% year-over-year increase. From 2017 to 2020, export value grew by 54%, equivalent to an annualized rate of 15.5%. The largest decline was in 2019, with a 5.5% drop.

Annual dynamics of product's exports from Nicaragua in value, 2017-2020, M $ US

Between 2017 and 2020, Costa Rica, El Salvador, and the United States were the primary markets for Nicaragua's dried shelled bean exports in value terms. Costa Rica represented 28.0% of export value, El Salvador 26.9%, and the United States 21.7%, collectively accounting for 76.7% of total export flows.

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

World map of product's exports from Nicaragua in value, 2017-2020

Imports dried shelled beans to Nicaragua

Imports in kind, t

Import volumes showed volatility during the observed period. In 2019, imports reached their lowest point at 160 tons, while in 2018, they peaked at 1 940 tons, representing a 12.1-fold difference. In 2020, imports rose to 579 tons, a 260.9% increase from 2019. The largest decline occurred in 2019, with a 91.7% drop, and the largest increase was in 2018, with a 380.6% rise.

Annual dynamics of product's imports to Nicaragua in kind, 2017-2020, t

From 2017 to 2020, the United States, Ethiopia, and Honduras were the main sources of dried shelled bean imports for Nicaragua. The United States accounted for 37.0% of import volume, Ethiopia for 22.4%, and Honduras for 22.1%, together making up 81.5% of total import flows.

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

World map of product's imports to Nicaragua in kind, 2017-2020

Imports in value, M $ US

Market performance exhibited noticeable fluctuations over the period. In 2019, import value hit a low of 0.1 million US dollars, while in 2018, it reached a high of 1.4 million US dollars, a 9.8-fold variation. In 2020, imports increased to 0.3 million US dollars, up 139.2% from 2019. The largest decline was in 2019, with an 89.8% decrease, and the largest increase was in 2018, with a 325.4% rise.

Annual dynamics of product's imports to Nicaragua in value, 2017-2020, M $ US

During 2017–2020, the United States, Ethiopia, and Honduras were the key markets for Nicaragua's dried shelled bean imports in value terms. The United States represented 47.4% of import value, Ethiopia 20.8%, and Honduras 16.8%, collectively accounting for 85.0% of total import flows.

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

World map of product's imports to Nicaragua in value, 2017-2020