Supplies of green beans continue to be short as growers struggle to recover from hurricane activity that swept through the southeast in September. The winds and rains from Hurricane Irma reduced volume significantly and created a shortage in the market which, so far, has been unable to be met. The season is about to shift southward and hopes are that supplies will steadily recover.
“The green bean market continues to be high and tight,” said one grower in Florida. “At this time of year, there is a natural gap between production regions. We are currently transitioning from the Georgia season into Central South Florida. This gap in production has hindered recovery in the market. Yield has been down since September when Hurricane Irma went through. The product that was already in the ground that time was hit very hard. Planting schedules have been messed up since then as growers attempt to recover their stocks. It’s hard to say exactly how much production is down by, however it’s apparent that recent activity has not been able to sufficiently fulfill demand.”
Market high
As supplies continue to be short, the market price is high and is forecast to remain that way as demand picks up in the lead up to the Thanksgiving holiday.
“Florida is getting going now but prices remain high,” he continued. “Demand is also expected to rise coming into Thanksgiving. This is one of the busiest times of the year for the green bean market and therefore we expect to have supply issues for some time. The market price is currently around $34 - $36 per bushel. We expect to see that hold steady throughout the Holiday period. Demand will pick up again around Christmas so we don’t expect to see the market normalize until after then.”