Green beans - prices fall sharply in Poland

In the last three years we have become accustomed to relatively high fresh bean prices in June in Poland. Especially when compared to 2016-2018, the later seasons (2019, 2020 and 2021) were characterised by high price levels.

Therefore, what is happening now is perceived among market participants as a big price drop, which may worry producers. After all, wholesale green beans are already cheaper compared to the previous two years. And it must be remembered that we have a completely different reality in terms of production costs.

Currently, the price of beans in the large wholesaler is usually between PLN 10.00 and 12.00 per kilo. This is 8% less than a week ago (the average then was PLN 12.00/kg). Since the beginning of June, bean prices have fallen by 54 percent. You can see how significant the dynamics of this price drop was on the second chart.

The pace of this discount can be worrying, as it seems to portend low prices at the peak of the season. However, it should be remembered that bean prices are highly correlated with weather conditions and what happens now may not necessarily continue in the following weeks. Secondly, despite this significant fall, bean prices have remained above pre-2020 levels, which is also not insignificant at a time when many consumers are cutting back on their purchases of foods that are not essential to their daily diet. Thirdly, it can be assumed that a drop in prices below the PLN 14.00-15.00/kg ceiling will, as always, boost demand for beans.