October 29, 2026
In October, Brazil re-elected Luiz Inácio Lula da Silva to his fourth presidential term and CONAB released its first crop report of 2026/27. IBRAFE President Marcelo Lüders weighs in on what the global pulse industry can expect from Brazil in the coming months.
On October 25th, Luiz Inácio Lula da Silva secured his fourth term as Brazil’s President, defeating challenger Flávio Bolsonaro in a runoff election. The next day, the exchange rate jumped from just under 5 BRL to more than 5.45 BRL to the USD. When Lula’s fourth term begins on January 5th, his new administration will have an opposition majority in both chambers of Congress.
Ten days prior to the election, CONAB released its first estimates of the 2026/27 cycle. The seeding of the country’s first of three bean crops is presently underway, with planting progress reportedly at 13.1% as of October 2. Above-average rainfall brought on by El Niño has delayed planting in key dry bean-growing areas.
For a look behind the numbers and to get a clearer picture of what Lula’s re-election might mean for the bean industry, we spoke with IBRAFE President Marcelo Lüders.
Source: xe.com. Brazil’s exchange rate (USD to BRL) for the past month, showing the strengthening of the real on Oct. 5, following Bolsonaro’s first-round win, and its subsequent devaluation following Lula’s victory in the runoff on October 25.
Lüders expectation is that carioca supplies will remain very tight at the beginning of 2027.
Brazil / Dry beans / Carioca beans / Black beans / Cowpeas / Bean production / Bean trade / CONAB / IBRAFE.
Disclaimer: The opinions or views expressed in this publication are those of the authors or quoted persons. They do not purport to reflect the opinions or views of the Global Pulse Confederation or its members.
