Report for FW03-111
Growers of edible beans face price uncertainties every year. Prices for some market classes offer an attractive return while other classes may offer only dismal returns. What’s more, bean producers have no futures markets on a board of trade through which they can hedge production in profitable markets. To help ensure steady high prices, Shane Atchley plans to investigate and develop a “ten-bean soup” package, which he estimates could increase his beans’ value by 80 cents a pound. The project will involve contacting a food industry consultant to learn about food industry contacts, then working with each to collaboratively develop a high-quality packaged bean product. The marketing project will assess regulatory requirements, design and create an attractive package and assess costs for production, packaging, warehousing and shipping.