Canada: Dry Bean Market 2024

Dry Bean Market Size in Canada

In 2022, the Canadian dry bean market increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, saw a mild downturn. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Dry Bean Production in Canada

In value terms, dry bean production expanded to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Dry bean production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average yield of beans (dry) in Canada soared to X tons per ha, rising by X% compared with 2021. Over the period under review, the yield indicated mild growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dry bean yield increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the average dry bean yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of beans (dry) in Canada declined sharply to X ha, waning by X% on 2021. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the harvested area dedicated to dry bean production reached the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Dry Bean Exports

Exports from Canada

In 2022, exports of beans (dry) from Canada dropped to X tons, reducing by X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, dry bean exports declined to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

The United States (X tons), the UK (X tons) and Japan (X tons) were the main destinations of dry bean exports from Canada, together accounting for X% of total exports. Italy, Angola, Turkey, Greece, Mexico, Belgium, France, South Korea and New Zealand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and Japan ($X) appeared to be the largest markets for dry bean exported from Canada worldwide, with a combined X% share of total exports. Italy, Angola, Greece, Turkey, Mexico, New Zealand, Belgium, France and South Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dry bean export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were New Zealand ($X per ton) and Angola ($X per ton), while the average price for exports to South Korea ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Dry Bean Imports

Imports into Canada

In 2022, approx. X tons of beans (dry) were imported into Canada; surging by X% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, dry bean imports reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest dry bean supplier to Canada, accounting for a X% share of total imports. Moreover, dry bean imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, the United States ($X) constituted the largest supplier of beans (dry) to Canada, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

Import Prices by Country

The average dry bean import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price recorded a slight increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform