Cepea, 09/12/2024 – Bean prices remained under pressure over the past week, according to a Cepea survey conducted in partnership with CNA. According to Cepea researchers, the pressure on prices came from weaker demand and higher supply.  The sharpest declines were seen for carioca beans graded 8.0 to 8.5 and for black beans. On the demand side, wholesale and retail sales remain slow, typical behavior for this period ahead of the year-end holidays. With a more subdued market, companies have opted for one-off purchases. On the supply side, even though some producers choose to limit the volume of higher-quality product, betting on more attractive prices, some lots are starting to lose color and are being reclassified at lower grades and sold at lower prices. Researchers note that this explains the sharper declines for carioca beans graded 8.0 to 8.5, especially in the Center-West regions. Source: Cepea (www.cepea.esalq.usp.br)