High blueberry prices in the USA can remain until Christmas…

A significant recovery has been caused in the prices of the product, almost doubling its value compared to the same date last year.

The sharp drop in production and export volume of the Peruvian blueberry industry in the current campaign has had a notable impact on the United States market, its main destination. As a consequence of this alert situation, as a result of the loss of fruit, a significant recovery has been caused in the prices of the product, almost doubling its value compared to the same date of the previous year.

According to Agronometrics reports, blueberry prices in the US market have remained high in recent weeks, rising up to USD 44,75 per package, significantly higher than what was achieved in the previous season.

Christmas…

This bonanza in blueberry prices can be maintained for several weeks, up to and including Christmas, because currently the contribution of Mexico, its natural supplier, is relatively modest and only guarantees a small constant flow of blueberries to the US market due to its proximity. geographical.

The volumes of blueberries from Michoacán and Jalisco, which are scheduled to begin harvesting during the second week of November, could exert a certain degree of influence on market behavior, although they would not be able to satisfy the entire fruit shortage.

Opportunities

In the light of the prevailing circumstances in Peru, which have triggered this shortage of blueberries, there are opportunities for Argentina to emerge as a prominent player in the market. It is favored by the combination of climatic conditions, its reality of reduced cultivation and harvest expenses, its good quality of fruit, and, most importantly, a superior price structure.

Chile can also play a determining role in reducing the supply deficit caused by the current circumstances in Peru.

The following graph shows the history of prices of conventional blueberries in the United States market, as reported.

Source: USDA Market News via Agronometrics.

Slowdown and overlap

On the other hand, forecasts indicate that Peru is likely to experience a peak delayed, which could coincide closely with the start of the peak Chilean. This overlap of both seasons has led the Chilean blueberry industry to closely follow the evolution of the situation in neighboring Peru, where volumes have decreased by a significant 52% compared to the same period of the previous season.

It is anticipated that the peak of Peru occurs during weeks 48-50, where it can still be crossed with the peak Chilean in January.

In the case of prices, it could be expected that they would begin to fall as supplies from Mexico, Peru and Chile begin to increase, but everything indicates that this decline will not be until Christmas or the beginning of next year.

Source
Blueberries Consulting

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