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Canada - Dry Bean - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Canada - Dry Bean - Market Analysis, Forecast, Size, Trends and Insights

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Feb 1, 2023

Dry Bean Price in Canada Declines Slightly to $1,068 per Ton After Two Consecutive Months of Contraction

Canada Dry Bean Export Price in November 2022

In November 2022, the dry bean price stood at $1,068 per ton (FOB, Canada), waning by -2.5% against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 when the average export price increased by 28% against the previous month. As a result, the export price reached the peak level of $1,388 per ton. From October 2022 to November 2022, the the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In November 2022, the countries with the highest prices were Italy ($1,166 per ton) and South Korea ($1,159 per ton), while the average price for exports to Spain ($819 per ton) and the United Arab Emirates ($863 per ton) were amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Canada Dry Bean Exports

After two months of growth, shipments abroad of beans (dry) decreased by -2.5% to 27K tons in November 2022. The total export volume increased at an average monthly rate of +1.1% over the period from January 2022 to November 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain months. The growth pace was the most rapid in May 2022 with an increase of 19% m-o-m. The exports peaked at 30K tons in June 2022; however, from July 2022 to November 2022, the exports failed to regain momentum.

In value terms, dry bean exports reduced to $28M (IndexBox estimates) in November 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 when exports increased by 34% month-to-month. As a result, the exports reached the peak of $34M. From October 2022 to November 2022, the growth of the exports remained at a somewhat lower figure.

Canada Dry Bean Exports by Country

The United States (8.3K tons), the UK (5.4K tons) and Italy (2K tons) were the main destinations of dry bean exports from Canada, with a combined 59% share of total exports. Belgium, Japan, Mexico, South Korea, Greece, Saudi Arabia, Croatia, Spain, the United Arab Emirates and France lagged somewhat behind, together comprising a further 28%.

From January 2022 to November 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +16.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($8.7M), the UK ($6.2M) and Italy ($2.3M) appeared to be the largest markets for dry bean exported from Canada worldwide, with a combined 60% share of total exports. Belgium, South Korea, Japan, Greece, Mexico, Saudi Arabia, Croatia, France, the United Arab Emirates and Spain lagged somewhat behind, together accounting for a further 26%.

Mexico, with a CAGR of +13.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Factors Affecting Dry Bean Prices

A variety of factors influence dry bean prices in Canada, including international demand and supply, domestic production costs, government policies and the strength of the Canadian dollar.

Dry beans are a major export product for Canada, with over half of production shipped to international markets. International demand is a significant driver of price for Canadian growers.

Canadian production costs have been rising in recent years due to higher input costs, such as seed, fertilizers and labour. These increases have been partially offset by productivity gains from new technology and better management practices.

The Government of Canada has a number of programs and policies that support the dry bean industry, including trade agreements, research initiatives and farm income support programs. These programs provide stability and certainty for producers amidst volatile market conditions.

The value of the Canadian dollar is another important factor influencing dry bean prices in Canada. A weak Canadian dollar makes the exports more competitive on world markets and often leads to higher prices for farmers.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the dry bean market in Canada. 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 2030.

Product coverage:

  • FCL 176 - Beans, dry
  • FCL 203 - Bambara beans
  • FCL 195 - Cow peas, dry

Country coverage:

  • Canada

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Canada
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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