Australian Mungbean Association
Australian-grown mungbeans have quality written all over them!
Mungbeans powered through adverse conditions last season
Australian Mungbean Association vice-president and Australian Choice Exports marketer, James Hunt (centre) with Steve Foran, Agrifoods Australia and a Chinese buyer inspecting high quality Australian green mungbean ready for export.
22 October 2018
by Cindy Benjamin
Strong demand and solid pricing supported Australian mungbean growers through a roller coaster season in 2017–18, which has ended on a positive note with all stocks now sold.
Overall, tonnage was down due to an underwhelming spring crop, and patchy rain in January caused many growers to hesitate over planting. Buyers in the Philippines and Sri Lanka took advantage of lower prices for the lower quality grain produced from spring crops, along with carry-over stock, as a result of India’s absence from the marketplace.
There was a distinct lift in yields, seed size and overall grain quality in the summer crops, particularly from the Darling Downs. Australian Mungbean Association vice-president and Australian Choice Exports marketer, James Hunt said grain samples sent to buyers in China ignited huge interest in the Australian product and resulted in prices quickly rising from around $800/t to $1200/t.
“China continued to take Australian mungbeans at around this price through to early July, at which time India released licences to import 150,000 t of mungbeans,” he said. “This gave Australian marketers the opportunity to liquidate remaining stocks at reasonable prices through to the end of August.”
Mr Hunt said this means that the 60 to 70 thousand tonnes exported has exhausted supplies and buyers will be keen to access new season mungbeans in the coming season.
“Overseas buyers have had another positive experience with Australian green mungbean and the industry will be in prime position to handle a larger crop knowing that there will be plenty of buyers for our premium product,” he said.
Early indications are that Australian growers could expect $800–900/t for manufacturing grade and $900–1000/t for processing grade mungbeans, making the crop an attractive proposition for growers to utilise spring and summer rain after a very dry winter cropping season for many.