January 3, 2024
The Operations Manager of Pronutre discusses spikes in Nicaraguan prices, the rise of the US red bean, and why Costa Rican traders will diversify their imports for 2024.
It's been a challenging year due to some fluctuations in the market we weren’t expecting, but things have been going well overall and we've grown a good amount. We've been in the same place for 32 years, but we’re in the process of growing things around the old parts of the company, such as rebuilding parts of our processing and distribution plants as well as the warehouses for finished products. The project will improve our capacity and efficiency and should be finished towards the end of April 2024.
In terms of the market, it's been a tougher year than some, but it's not been bad on the profit side of things. There have been challenges in the red bean market, but black beans have been very stable and demand continues to be strong. Prices didn't change a lot, and only now we're buying more of the 2023 crop from the US have prices risen. Prices are going crazy, which can make it difficult to forecast for next year, but fortunately, we did manage to close some good positions.
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