2nd October 2015
Frontier Pulse trader Andy Bury has confirmed that the MV Karla C has departed Tilbury to begin its 12 day journey to Damietta port in Egypt. Its 6300 tonne cargo of new crop beans is the first vessel of the season. Andy explains that this is an important marker in the Egyptian market and it is especially important that the quality is good, "UK beans are the cornerstone of the quality bean market in Egypt. This year with only very poor quality coming from France it is paramount we export on the very best quality from the UK in order for us to compete with the ever growing supply from the Baltic States."
The UK pulse market has changed considerably in the last year. The market response to the increase in marketable supply, up from 420,000 tonnes last year to over 550,000 tonnes this year, has lead to a reduction in values. One positive outcome of this is increased demand from UK feed compounders, with all feed mills that manufacture ruminant feeds incorporating a proportion of beans into their rations. With 25% protein and beans valued at a £15/tonne premium over wheat, demand for imported soymeal is reduced.
"Our advice is always to grow for human consumption," says Andy, "The bean market in Egypt and the Middle East continues to grow, but knowing that there is domestic demand should reassure growers that there will continue to be a strong market for their beans."