Dry bean exports and prices forecast to face challenges
The 2024-2025 outlook for Canadian dry beans indicates that exports will remain similar to last year at 0.4 million tonnes (Mt). The U.S. and the European Union continue to be the primary markets, with higher demand from these regions balancing lower demand from Mexico and Japan.
However, the increased North American supply has pressured prices, resulting in a 9% forecasted decline in the average price for the year, with a price of $1,100 per tonne. This price drop is compounded by lower prices for Canadian white pea beans (down 3%), pinto beans (down 18%), and black beans (down 13%) from 2023-24 levels.
Despite this, the weaker Canadian dollar against the U.S. dollar may partially mitigate the price decline.
For 2025-2026, the outlook shows a decrease in seeded area, with a forecasted 11% reduction to 145 thousand hectares (Kha). The decrease is primarily due to lower returns compared to other crops. By province, Ontario is expected to account for 30% of the dry bean area, while Manitoba will plant 54%, and Alberta will contribute 10%.