South America Argentina Planting for 2017 Campaign Starts in Argentina

South & Central America and Caribbean Market Report Submitted to USDA FAS and USDBC Prepared by USDBC Regional Representative Roman Kutnowski and International Representative Ellen Levinson March 21, 2017 Highlights: Worldwide: Between Sep. 2016 and Jan. 2017, U.S. dry bean exports worldwide were down 11% compared to the same period last year. The most significant changes were: Mexico (down 44%); UK (down 34%), Dominican Republic (down 26%) and Haiti (down 68%). Conversely, exports to the following destinations increased sharply from last year: Brazil (11,155 MT vs. 0), South Africa, (7,033 MT vs. 0) and Mozambique (3,924 MT vs. 0). Argentina: Planting delays were reported in Argentina due to dry weather conditions in January and the first half of February. Much needed rains in the second half of February brought relief to local growers, who in most cases accomplished target acreage. Planting delays could pose a threat at harvest time, which is expected to take place in late May/June. Brazil: The Brazilian Government (Conab) projected a higher dry bean area for the 2016/17 second season harvest in April May. Higher production for carioca beans, black beans and brown eyed peas is expected. Costa Rica: Due to the impact of Hurricane Otto early in the growing season, the Costa Rican National Production Board (Consejo Nacional de la Producción, CNP) anticipates that 2016/17 dry bean production will be down 40% this year compared to the 3 year average (2013/14 to 2015/16). In late January, CNP recommended that the Ministry of Agriculture increase the amount of dry beans that can be imported under this year's zero duty shortfall quota by 5,139 MT, raising it to 14,555 MT. No decision has been made, yet. The quota is available until June 30, 2017. Guatemala: From September 2016 through January 2017, black bean exports from the U.S. to Guatemala were 41% above the level for the same period last year (1,340 MT compared to 954 MT). Dominican Republic: U.S. dry bean exports to the D.R. were 14,524 MT from September 2016 through January 2017, down 26% compared to the same period last year. The Ministry of Agriculture is limiting U.S. 2017 dry bean imports under the DR CAFTA TRQ to April through December, rather than allowing imports during all 12 months of the calendar year. USDBC is monitoring the situation and consulting with importers, FAS and USTR to determine the impact on U.S. dry bean exports and full implementation of DR CAFTA. Nicaragua: Despite unfavorably wet weather conditions, the country seems headed towards an above average Apante crop; estimated production of 2 million quintals (cwt) (roughly 90,744 MT). The harvest kicks off at the end of March and accounts for 40% of the total production in Nicaragua. It is crucial for Central American countries where red beans are normally consumed, such as El Salvador, Costa Rica and Honduras. 1 Page

South America Argentina Planting for 2017 Campaign Starts in Argentina USDBC visited Argentina's dry bean growing region in mid February and issued a report with the following highlights: Due to Brazil s sharp drop in dry bean production in 2016 coupled with a poor Chinese harvest, Argentina's 2015/16 dry bean exports increased by roughly 69% compared to the previous year, with most beans exported to Brazil. Consequently, exportable carry over for black, cranberry, and dark red kidney beans will likely be lower at harvest (late May/June 2017) compared to last year. 2016 was a good year for Argentine farmers, with prices up by an average 50%. Prices have now declined as Brazil s first 2016/17 harvest finished with an estimated 1.38 MMT up 33% compared to last year (Conab estimate). Still, analysts, farmers and traders alike expect higher acreage for varieties that performed well in Brazil last year namely black, cranberry and dark red kidney beans. Conversely, the area under mung beans and light red kidney beans is expected to drop from last year. Most alubia beans are grown in the north of Salta and Jujuy, in semi arid and dry subhumid areas where farmers do not have many alternative crops. Therefore, the area under alubia beans tends to remain stable. The Northwest of Argentina suffered dry weather conditions in January and the first half of February. This delayed planting in Southern Salta and Northern Tucuman. However, muchneeded rains were reported in the second half of February. As a consequence, most growers accomplished target acreage. 2 Page

Argentina Dry Bean Exports: 2013 14, 2014 15, and 2015 16 (MT) Source: Global Trade Atlas (HS Code 071333) Argentina Dry Bean Exports to Main Partners, 2013 14, 2014 15, and 2015 16 (MT) Source: Global Trade Atlas Brazil Higher Area and Production Expected for Second 2016/17 Harvest Conab revised down slightly its dry bean production estimate for the first 2016/17 bean campaign at 1.38 MMT, up 33% from 2015/16. Of the total, carioca beans dominate accounting for 962,000 MT; black beans come in second, accounting for 318,000 MT; and brown eye peas (cowpeas) account for 201,500 MT. 3 Page

For the second harvest, Conab is estimating a total area of 1.376 million hectares while production is projected as follows: 617,100 MT of carioca beans; 198,200 of black beans; and 404,000 MT of brown eye beans. Harvest is set to kick start by April 5 th. Good weather conditions were reported when this report was being written. Dry Bean Area, Yield and Production in Brazil, 2014/15 to 2016/17 Source: Conab Brazil's Dry Bean Production by Type (Harvest I and Harvest II 2016/17) in MT Source: Conab Pricing As noted in previous reports, prices of carioca beans in 2016 were significantly higher than in 2015. The production increase for the First 2016/17 Harvest brought prices of carioca and black beans down sharply. Heading into the 2016/17 second season s harvest, prices increased in mid March compared to mid February and are expected to remain stable with the output of the second harvest, a recent Bolsinha report pointed out. 4 Page

Brazil Dry Bean Prices Reported by Conab and Bolsinha Report (USD/MT) Sources: Conab and Bolsinha Reports US Dollar to Brazilian Real One Year Exchange Rate Source: xe.com Brazil's 2015/16 Dry Bean Imports Up 62% Due to a significant domestic production shortfall, Brazil's 2015/16 dry bean imports increased by 62% from 2014/15 to 256,942 MT. 5 Page

Brazil Dry Bean Imports: Main Partners in 2013/14; 2014/15; and 2015/16 Source: Global Trade Atlas Dry beans from fellow Mercosur member countries enter Brazil duty free, which favors Argentine and Bolivian imports. Last year the U.S. became a supplier. The Global Trade Atlas reports that Brazil's dry bean imports from the U.S. from September 2016 through January 2017 reached 12,608 MT, making Brazil one of the top ten destinations for U.S. dry beans during that period. Brazil Dry Bean Imports, Sept Jan 2014 15; Sept Jan 2015 16; and Sept Jan 2016 17 (in MT) Source: Global Trade Atlas 6 Page

Brazil Dry Bean Imports, Sept Jan 2016 17 by Month (in MT) Source: Global Trade Atlas U.S. Dry Bean Exports to Brazil, by Bean Type (MT) Source: FAS GATS Black and Carioca Bean Market Outlook, Nov 2016 to Oct 2017 According to the February production/consumption estimate by Marcelo Luders (the Brazilian Institute for Dry Beans and Pulses, IBRAFE), carioca bean supplies will likely tighten around April May, 2017, and then again in October 2017. The black bean market should remain with adequate supplies until September October (new crop Argentine black beans normally enter the Brazilian marketplace by June). We expect to receive an updated projection in late March 2017. 7 Page

Black Beans in Brazil: Projected Consumption, Production/Stocks Nov 2016 Oct 2017 Source: IBRAFE Consumption: blue Production and carryovers: green Total stocks: red Carioca Beans in Brazil: Projected Consumption, Production/Stocks Nov 2016 Oct 2017 Source: IBRAFE Consumption: blue Production and carryovers: green Total stocks: red 8 Page

Colombia Record Level of U.S. Imports in 2015/16 U.S. dry bean exports to Colombia reached the record level of 12,206 MT in 2015/16, according to FAS GATS data. Several different classes of beans were exported, including cranberry beans, pinto beans, light red kidney beans, dark red kidney beans, black beans and navy beans. U.S. cranberry beans proved to be a highly popular substitute for the locally produced cargamanto bean, which is similar in appearance but significantly larger. Large domestic supplies in Q1 2016/17 drove U.S. dry bean exports to Colombia down for the September 2016 through January 2017 period compared to last year. Nonetheless, U.S. exports were higher than the 3 year past average for that period, as shown in the chart below. U.S. Dry Bean Exports to Colombia (September January), in MT Source: FAS GATS Colombia Dry Bean Marketing Year Imports (MT) Source: Global Trade Atlas (HS Code 071333) 9 Page

Colombia 2015 2016 Dry Bean Imports, by Month Source: Global Trade Atlas (HS Code 071333) U.S. Dry Bean Exports to Colombia by Type, in MT Source: FAS GATS Some U.S. Containers Rejected due to Soil Contamination One challenge that U.S. pulse exporters have faced rejection of cargoes due to soil contamination. Since November, several cases have been reported at Cartagena. The Instituto Colombiano Agropecuario (Colombian Institute for Agriculture and Livestock, ICA) performs functions similar to USDA s APHIS. Among other things, ICA is responsible for certifying that imported plants and plant products comply with the country s health standards and requirements. The country has zero tolerance for soil contamination (as does the United States). In Colombia, if soil is found by the inspector, it must be noted on the port certificate and the container is rejected. Apparently, however, the standard is not evenly applied. USDBC discussed this matter with FAS Post in Bogota, USDA APHIS and affected U.S. exporters and continues to monitor the situation to determine its impact on U.S. dry bean trade. 10 Page

Pricing Last summer, Colombia s dry bean sector started to rebound from two years of severe drought. With stronger domestic production, prices dropped quickly and, consequently, Colombia s bean sector began purchasing more local product and reduced imports. Colombia Specialty Crop Prices, as Reported by Corabastos (USD/MT) Sources: Corabastos and trade estimates for red and white cargamanto beans U.S. Dollar to Colombian Peso One Year Exchange Rate Source: xe.com 11 Page

Central America and the Caribbean According to FAO GIEWS Food Price Monitoring and Analysis (FPMA) Bulletin issued on March 9, 2017, Central American red bean prices increased seasonally in February ahead of the 2016/17 Apante harvest. The impact of late November s Hurricane Otto can be seen in lower harvest projects in Costa Rica, while southern parts of Haiti have still not recovered from Hurricane Matthew, which hit the country on October 5 6, 2016. In Honduras and Nicaragua prices were more than 10% higher than a year earlier due to seasonal pressure, which was exacerbated by sustained sub regional demand. In El Salvador prices of red beans also rose slightly, but prices were lower than last February as a result of adequate volumes of imports and good volumes from the main Postrera harvest. In Guatemala black bean prices weakened reflecting new supplies from the harvest in the northern Petén Department. In Haiti there were mixed trends in bean (black and red) prices during February. Prices were increasing in southern regions that had been hit hard by Hurricane Matthew in October 2016, wiping out crops, while declining in other regions due to the autumn harvest. In the Dominican Republic prices of red and black beans were stable in February after declining in the previous months. 12 Page

Nicaragua Nicaragua is the main dry bean exporter in Central America and 95% of the country's dry bean production depends on small and mid scale farmers. Average production stands at around 180,000 MT while domestic demand usually reaches roughly 122,000 MT. Nicaragua Dry Bean Prices at Wholesale (USD/MT) Exchange Rate: December 30, 2016: 1 USD=29.6 NIO 3 months ago: 1 USD=29.29 NIO 6 months ago: 1 USD=28.88 NIO Source: SIMPAH Apante Harvest Outlook The Apante season produces the largest dry bean harvest (March April) in Nicaragua, accounting for roughly 40% of the country's total production every year. Despite wet weather condition reports in parts of the country (http://www.laprensa.com.ni/2017/03/20/departamentales/2201758 reportan baja cosechade frijol en nueva guinea), Nicaragua seems to be headed to an above average Apante Harvest Season. According to Alvaro Fiallos, President of the Nicaraguan Agricultural and Livestock Union (Unión Nacional de Agricultores y Ganaderos de Nicaragua, UNAG), the Apante dry bean production could stand at 2 million quintals or cwt (roughly 90,744 MT) (http://www.lajornadanet.com/index.php/2017/03/17/2 millones de quitales de frijolproducidos en nicaragua garantizaran estabilidad en el precio dice unag/#.wnk4irlyvay). Traders within the country estimate production could actually be higher than Fiallos' estimate by 10 to 15%. Costa Rica, El Salvador and Honduras heavily depend on the output of the Nicaraguan Apante season to meet domestic demand of red beans. El Salvador El Salvador is the main red bean importer in Central America and also imports other types of beans for processing and blending. 13 Page

For 2016/17, the Government of El Salvador estimates 2.6 million cwt (118,000 MT). Traders expect 2.5 million cwt (113,000 MT). The Marketing Year in El Salvador is May to April. El Salvador Dry Bean Prices at Wholesale (USD/MT) Source: Salvadoran Ministry of Agriculture Guatemala Due to problems with the Postrera harvest, which usually takes place November December, the Guatemalan Government announced a duty free quota for 5,000 MT of black beans for 2017 (all WTO members are eligible). From September 2016 through January 2017, black bean exports from the U.S. were 41% above the level for the same period last year (1,340 MT compared to 954 MT). In February March black bean prices weakened, reflecting new supplies from the harvest in the northern Petén Department. Guatemala Dry Bean Prices at Wholesale, as Reported by MAGA (USD/MT) Source: Guatemalan Ministry of Agriculture U.S. Dollar to Guatemalan Quetzal One Year Exchange Rate Source: xe.com 14 Page

U.S. Dry Bean Exports to Guatemala, by Bean Type (MT) Source: FAS GATS Costa Rica Dry Bean Production Down; Duty Free Shortfall Import Quota May Rise Costa Rica's dry bean production usually covers about 26 to 31% of the country's total demand, estimated at 47,000 MT. In 2016/17, however, weather events in late 2016 (mainly Hurricane Otto) reduced bean production: CNP estimates 8,720 MT compared to 14,178 MT in 2015/16. The regular import tariff for beans is 30%, but under DR CAFTA, in 2017 the tariff for U.S. dry beans is 9.2% and will be reduced to zero by 2020. Costa Rica also has a trade agreement with China that permits 10,000 MT of dry beans to enter duty free each year. The China quota plus domestic production is typically not enough to cover domestic demand. Thus, each year the Government can declare a shortfall and set a quota for additional duty free imports of dry beans (reds and blacks) from any origin. The shortfall quota for this year has been established at 9,432 MT (valid until June 30, 2017). As of Jan 1, 2017, 5,123 MT had already been imported. Based on updated harvest projections, in late January the CNP requested the Ministry of Agriculture to increase the duty free shortfall quota by an additional 5,139 MT (raising it to 14,555 MT for 2017). The industry, local sources say, is asking for twice as much. So far, the Ministry has not announced a revised shortfall quota. U.S. Dry Bean Exports Increase; Prices are Steady Total U.S. dry bean exports to Costa Rica for September 2016 through January 2017 were 3,316 MT, a ten fold increase compared to the 276 MT exported during the same period last year. Prices for black and red beans have remained fairly steady since February. 15 Page

Costa Rica Wholesale Dry Bean Prices (USD/MT) Source: CNP U.S. Dollar to Costa Rican Colon One Year Exchange Rate Source: xe.com U.S. Dry Bean Exports to Costa Rica, by Bean Type (MT) Source: FAS GATS 16 Page

Honduras Traditional red bean dishes are popular, such as fried, mashed beans and soups. Bean pastes and frozen cooked beans are produced for markets in Honduras, El Salvador, Nicaragua and the United States. The Honduran Ministry of Agriculture estimated domestic production of 135,000 MT for 2016, but that level has not been verified. The Ministry reported a production level of 112,500 MT for 2015. Most imported beans are from Nicaragua; imports from other countries varies considerably from year to year. A total of 13,298 MT was imported in 2015/16. Catholic Relief Services issued a freight tender with offers due by March 30, 2017 (June delivery) for several different commodities that will be used for its USDA McGovern Dole International Food for Education and Child Nutrition program in the department of Intibucá. The tender includes 180 MT of small red beans in 50kg bags. Honduras Dry Bean Prices at Wholesale (USD/MT) Exchange Rate: March 13, 2017: 1 USD=23.62 HLM 3 months ago: 1 USD=23.46 HLM 6 months ago: 1 USD=22.91 HLM Source: SIMPAH Haiti The Food and Agriculture Organization of the United Nations (FAO) reported that dry bean crop damage due to Hurricane Matthew in October 2016 was extensive in Grand Anse and the South departments. Dry beans are a critical food crop in Haiti. Prices have been high and increasing in southern regions that were hit hard by the hurricane, while in regions that were not affected by the hurricane, prices are declining due to the autumn harvest. The country continues to rebuild infrastructure and agriculture following the 2010 earthquake. The timing of Hurricane Matthew hindered the rebuilding effort and once again exacerbated the food security situation. The World Food Program s Special Operation programs following Hurricane Matthew ceased at the end of February, but large scale Protracted Relief and Recovery Operations and support for the National School Meals program continue, reaching many of the country s departments. 17 Page

USDA has both Food for Progress and McGovern Dole Food for Education programs in the country and USAID funds PL 480 Title II programs, including 6,333 MT of in kind emergency food aid for fiscal year 2017 U.S. Dry Bean Exports to Haiti, by Bean Type (MT) Source: FAS GATS Dominican Republic Since DR CAFTA went into effect in the Dominican Republic in 2007, U.S. exports to the DR have seen substantial growth and it is now a top market for U.S. dry beans, particularly pintos. From September 2016 through January 2017, 14,524 MT of U.S. dry beans were exported and 78% were pintos (FAS GATS). Overall, during that 4 month period exports were down 26% from last year. Two multi year USDA Food for Progress Programs are currently being conducted in the country: one is being implemented by the International Executive Service Corp. and the other by the National Cooperative Business Association. Production and Consumption: Dry Beans are a Dietary Mainstay Red beans (a category that includes Roja Larga/Buena Vista, Jose Beta and Cranberry beans) and black beans are the primary dry beans produced and consumed in traditional dishes. Small amounts of white beans are also produced. Red beans are the preferred bean in the country and U.S. pinto beans, when cooked, are similar to Dominican red beans and are now very popular. Pigeon peas are produced in large amounts and about half of the crop is exported. The main harvest season for reds and blacks starts in January, peaks in February and continues into mid March. Wholesale prices for domestic red beans tend to peak in October. The harvest 18 Page

coincides with the start of Lent, when red beans are in high demand for the traditional Habicuelas con Dulce a sweet, creamy desert of beans, coconut milk and sweet potatoes. Packagers and retailers estimate that 80% of domestic red beans are sold in this period. DR Dry Bean Consumption, 2012 2015, MT (Min. Ag) Drought and yellow mosaic virus decreased dry bean production by 15.5% from 2012 to 2015 (Central Bank of DR Economic Report). Planted area and yields are also falling, mainly due to production and financing challenges. Imports In 2016, an estimated 55 60% of the bean supply was imported (Ministry of Agriculture). Both importers and producers do not expect import needs to decrease in 2017. Under DR CAFTA, in calendar year 2017 the TRQ for duty free entry of U.S. dry beans is 14,720 MT and the over quota duty is 17.8 percent. The Ministry of Agriculture issues licenses to domestic companies for imports under the TRQ. The chart below shows the total amount licensed and the amounts licensed to the five companies that received the largest share since 2013. Min. Ag. Dry Bean Import Licenses under the US TRQ, by Company, from 2013 2017 (MT) 19 Page

The TRQ increased from 2013 to 2017, as follows (in MT): 2012 2013 2014 2015 2016 2017 11,900 12,480 13,040 13,600 14,160 14,720 As can be seen from the chart below, significant over quota quantities of U.S. dry beans are imported. Thus, in addition to the TRQ license, obtaining out of quota beans is an important part of an importer s strategy. U.S. Dry Bean Exports to the DR by Type, 2012/13 2016/17 and Sep Jan 2016/17, MT Bean Type 2012/13 2013/14 2014/15 2015/16 Sep Jan 2016 Sep Jan 2017 Pinto 27,841 19,224 20,342 26,290 12,742 11,317 Black 2,099 31 4,084 8,692 3,200 575 Cranberry 9 1,252 2,667 3,442 2,796 0 Other 0 0 0 1,185 550 2,381 Great Northern 410 3 1,337 276 276 251 Small Red 0 2,553 3,722 177 177 0 Source: FAS GATS U.S. Dry Bean Exports to Dominican Republic, by Bean Type (MT) Source: FAS GATS 20 Page

DR CAFTA Administrative Issues The Government of the Dominican Republic has used a variety of non tariff barriers to limit dry bean imports, particularly during the harvest season (January March). For 2017, the Ministry of Agriculture issued a resolution limiting imports under the U.S. dry bean TRQ to the months of April through December, even though the DR CAFTA TRQ applies to the full calendar year. Several importers have expressed concerns about how the TRQ and over quota imports are administered. UDSA/FAS and the U.S. Trade Representative (USTR) are concerned about this resolution and other actions taken by the DR government that can undermine implementation of DR CAFTA s market access measures. Bilateral discussions have been taking place between U.S. and D.R. government officials about these issues. USDBC is consulting with and providing input to USDA/FAS and USTR. We are monitoring the situation to determine the impact of the D.R. government s actions (1) on U.S. dry bean exports and (2) DR CAFTA provisions to phase out duties on all U.S. dry bean imports by 2020. A fuller analysis of the situation will be provided in an upcoming Jamaica Dominican Republic Trade Mission Report. Dominican Republic Dry Bean Prices at Wholesale (USD/MT) Dominican Ministry of Agriculture U.S. Dollar to Dominican Peso One Year Exchange Rate Source: xe.com 21 Page

Jamaica Red beans are consumed regularly in traditional Jamaican bean and rice dishes. Jamaica is the top U.S. market for small red beans. Red kidney beans are domestically produced in crop rotations on about 160,000 farms that are five acres or less. Production is rain fed and the main planting season is October with December/January harvest. When harvested, nearly all of the production is consumed fresh and it is therefore considered a different product the dry kidney beans. Once the harvest is underway, the Ministry of Agriculture does not issue any import licenses. Import duties are waived for Caribbean Community (CARICOM) members. For the US and other non members, there is a duty of 40%. For kidney beans, an additional 32.825% duty is levied. Plus, the internal general consumption tax is 16.5% for non CARICOM beans. Belize is the other country in the region that grows red kidney beans. The chart below shows the top 5 destinations for US small red beans. Jamaica is the largest buyer. Duty free imports of light red kidney beans from Belize are today a challenge for U.S. dry beans in Jamaica. The minimum import tax for U.S. dry beans is 16.5%, and can increase up to 100% in the case of light red kidney beans. [EL1]The World Trade Atlas data shows that Belize's dry bean exports to Jamaica tripled in 2015/16 to 2,915 MT. Belize's Dry Bean Exports to Jamaica, in MT Source: Global Trade Atlas (HS Code 071333) Jamaican importers reported that recent prices from Belize are: $55/cwt ($1,212/MT) for Light Red Kidney Beans (FOB) $40/cwt ($881/MT) for Small Red Beans (FOB) 22 Page

U.S. Dry Bean Exports to Jamaica, by Bean Type (MT) Source: U.S. Census Bureau Trade Data U.S.A. 2015/16 Marketing Year Exports The most notable changes in U.S. exports in 2015 16 marketing year to Latin America were for the markets of Mexico, Dominican Republic, Brazil and Colombia. Exports to Mexico, while not reaching the 5 year average, were much stronger than the two years prior. U.S. exports to the Dominican Republic and Colombia reached all time record highs for commercial (non food aid) shipments. South and Central America and the Caribbean (SCA&C) Trends and Market Developments In the first quarter of the 2016/17 marketing year, buyers from SCA&C black bean markets have been more actively seeking product from the United States. Dry bean exports to Brazil reached an all time record of 11,155 MT from September 2016 through January 2017, FAS GATS data show. However, this trend is unlikely to continue due to the bumper First Season harvest (completed in February) and an expected strong Second Season harvest in April/May 2017. Opportunities may arise later in the year. Dry bean exports to Guatemala in the 2016/17 marketing year started at a good pace (1,344 MT from September 2016 through January 2017 compared to 954 MT in the same period last year). U.S. exports to Costa Rica reached 3,311 MT in September 2016 January 2017 compared to 276 in 2015/16. Pinto bean exports to Colombia were up significantly in 2015/16 compared to 2014/15. 23 Page

However, they dropped off in the first months of the new marketing year as domestic bean prices fell. Top 20 U.S. Dry Bean Export Markets, 2011/12 to 2015/16 (in MT) Source: FAS GATS Top 15 U.S. Dry Bean Export Markets (September January), in MT Source: FAS GATS US Dry Bean Import Trends from Latin American Region While U.S. exports to Mexico gained some strength in 2015 16 marketing year, U.S. imports from Mexico remained higher than 5 year average. U.S. imports of small red beans from Nicaragua also remained higher than 5 year average. 24 Page

In contrast, imports from China and Peru were significantly below their 5 year average. Imports of Nicaraguan small reds (rojo seda) beans between September 2016 and January 2017 increased by 30% to 3,924 MT. Imports of Peruvian beans in that same period also increased by 44% to 2,007 MT. Conversely, dry bean imports from Argentina fell by 70% to 694 MT from 2,329 MT in the same period last year. Top 12 U.S. Dry Bean Import Markets 2011/12 to 2015/16 (in MT) Source: FAS GATS Top U.S. Dry Bean Import Markets (September-January), in MT Source: FAS GATS 25 Page

Global View World Dry Bean Exports, By Marketing Year Source: Global Trade Atlas and U.S. Census Bureau Trade Data 26 Page

Global View World Dry Bean Imports, By Marketing Year Source: Global Trade Atlas and U.S. Census Bureau Trade Data 27 Page