Mung Beans Prices

Mung Beans Prices December 2023

In the fourth quarter of 2023, the price of mung beans in the United States reached 0.72 USD/lb by December. Similarly, in China, the mung beans prices hit 0.65 USD/lb in December.

Mung Beans Price Trend, Market Analysis, and News

IMARC's latest publication, “Mung Beans Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the mung beans market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of mung beans at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed mung beans price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting mung beans pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Mung Beans Market Analysis

The global mung beans market size reached US$ 4,363.4 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 5,705.1 Million, at a projected CAGR of 2.90% during 2023-2032.

• The mung bean market is witnessing a significant growth due to the increasing global demand and expanding export opportunities. Countries across Asia, Europe, and North America are importing substantial amounts of mung beans. These versatile legumes are integral to traditional cuisines and are becoming a key ingredient in many plant-based products. According to the U.S. Department of Agriculture (USDA), U.S. mung bean exports have increased by 15% annually over the past five years, reflecting strong international interest. This growing demand is prompting American farmers to rise production and invest in more advanced farming techniques to ensure a steady supply. Additionally, trade agreements and initiatives aimed at improving food security are making it easier for mung beans key players to enter new markets. As more people around the world discover the nutritional benefits and versatility of mung beans, the market continues to grow, underscoring their importance as a global export commodity.
• The demand for mung beans is on the rise, fueled by a growing interest in plant-based proteins as more people opt for healthier and more sustainable diets. Packed with protein, fiber, and essential nutrients, mung beans are becoming a favorite among vegetarians, vegans, and health enthusiasts. According to the Good Food Institute, plant-based food sales grew by 27% in 2020, reflecting a broader trend toward plant-based diets.  This trend is encouraging food manufacturers to innovate and expand their product lines to include mung beans in a variety of foods such as plant-based meats, protein powders, and snacks. The exceptional versatility and nutritional value of mung beans make them a cornerstone of the plant-based food movement. As more consumers look for healthy, sustainable, and protein-rich alternatives to animal products, the demand for mung beans continues to increase, thus driving market growth.
• Mung beans are gaining immense traction across the globe due to their extensive health benefits and high nutritional value. They are rich in antioxidants, vitamins, minerals, and fiber, contributing to improved digestion, weight management, and reduced risk of chronic diseases. The Centers for Disease Control and Prevention (CDC) reports that diets high in legumes, such as mung beans, can lower the risk of heart disease and diabetes by up to 20%. This growing awareness about the health benefits of mung beans is driving consumer interest and market demand. Food manufacturers are responding by promoting mung bean-based products in various forms, including soups, salads, sprouts, and desserts. The emphasis on health and wellness in dietary choices is a significant driver for the mung bean market, as consumers increasingly seek foods that support their long-term health.

Mung Beans News

The report covers the latest developments, updates, and trends impacting the price of mung beans, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the mung beans price trend.

Latest developments in the mung beans industry:

• January 10. 2024: Researchers from National Taiwan University identified the effects of plasma-activated water (PAW) on the seed germination of mung beans. The method was shown to boost crop growth and may be used as a reference for other types of seeds.
• July 19, 2023: A new mung bean variety, Malaviya Jankranti, of high protein content (28.9%) developed by the Department of Genetics and Plant Breeding, Institute of Agricultural Sciences, Banaras Hindu University, has been notified by the central variety sub-committee on crop standards, notification and release of varieties of agricultural crops, Union Ministry of agriculture and farmers welfare in its 90^th meeting held at New Delhi.

Product Description

Mung beans, scientifically also known as Vigna radiata are tiny pods that are green in color and largely cultivated and consumed throughout the world. They have been cultivated in India since time immemorial and form part of the staple diet of many Asians. As a result, they are gaining immense traction across the globe due to their rich nutritional profile comprising proteins, fiber antioxidants, vitamins, and minerals.

The broad applicability of mung beans makes them suitable for different culinary practices. Mung beans can be eaten whole split or ground to give flour. For instance, soups, stews, and curries mostly contain whole mung beans. People like sprouted mung bean salads and stir fry because these foods are crunchy and tender.

Mung flour is used to make noodles and desserts. Furthermore, mung beans have health benefits that include digestive enhancement, weight control, and prevention of conditions such as heart disease and diabetes among others; hence making it easier to cook them differently for diverse dishes has also resulted in their becoming convenient food materials for varied diets.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the mung beans price trend. 

Global Mung Beans Price

The report offers a holistic view of the global mung beans pricing trends in the form of mung beans price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of mung beans, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed mung beans demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Mung Beans Price

European mung beans prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for mung beans can also be provided for an extensive list of European countries.

North America Mung Beans Price

The analysis of mung beans prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific mung beans historical data within the United States and Canada can also be provided.

Middle East and Africa Mung Beans Price

The report explores the mung beans pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Mung Beans Price

The mung beans pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This mung beans price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Mung Beans Price

The analysis of mung beans prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of mung beans pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting mung beans price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The mung beans price charts ensure our clients remain at the forefront of the industry.