Brazil to import beans for lower price

The Brazilian government announced Wednesday (Jun. 22) it is set to authorize bean imports from Argentina, Paraguay, and Bolivia in order to slash the price of the product in the domestic market. Mexico and China are also being considered as prospective sellers, according to the Ministry of Agriculture, Livestock, and Supply.

According to the Brazilian Bean Institute, the hike in the bean price is mostly due to the drought facing the states where the vegetable is produced. As a result, supplies slipped, and, as demand grew, so did prices. The price of pinto beans reached $3/kg in a number of supermarkets across the country.

Agriculture Minister Blairo Maggi said he plans to suggest major supermarket chains in the country to purchase the product where supplies are higher. “I've been personally involved with talks with cereal growers and major supermarkets in a bid to have them refrain from what's been traditionally done in Brazil, go straight to the source where the product is available and bring it over. We're sure the price will abate after it starts coming to the country,” he noted.

Translated by Fabrício Ferreira