Hoping for a good bean harvest
On August 15, El Mundo reported that El Salvador's ministry of agriculture is forecasting a record red bean harvest. A record harvest would allow the price of beans to drop from their high of this year between $1.20 to $1.30 per pound, back to 50 cents per pound. The minister of Agriculture even suggests that the harvest might exceed El Salvador's domestic consumption, so that no beans would need to be imported during 2012. As a result of poor harvests in 2011 and earlier years, El Salvador has been a net importer of beans and corn. This situation of recent decades contrasts with the 1980's and earlier when El Salvador was self-sufficient with respect to its production and consumption of these basic foodstuffs of the Salvadoran diet. Currently El Salvador has to go out onto world markets to buy beans and corn. Most beans are purchased from Nicaragua, but earlier this year El Salvador looked around the world to China for a source of beans . C...