The market analysis of soybeans in new season
2022 crop of Frozen Edamame, the cost of raw material is much much higher, as forecast, the price will be USD150-230/MT higher than last crop.
The main reasons are:
1. The government encourage farmers to plant the paddy (having allowance as encourage).
Therefore, the cultivated area of 2022 Edamame has decreased about 30% than that of 2021 crop.
2. The edamame planted in March. And it has the phenomenon of cold spell in later spring around 30th March. And the low temperature reached 3 ℃, which lasts about one week. and because of the rainwater in the middle April and in the beginning of May, the podding rate reduced 15%-20% than last year in the flowering period.
3. The salary of worker (government adjusted the base salary every year in June and effective on 01 July) and packaging materials increased about 2%.
So taking these into account, the price is much higher this crop.
