Market Report July 2024
Pineapple
The months-long drought caused by El Niño has led to significant crop losses in Southeast Asia. Thailand’s summer harvest is coming to an end, marking the third consecutive poor harvest. Some packers have taken an early summer break due to insufficient raw materials to meet production capacity. The raw material price averaged 14 THB/kg in June, the highest value in the last four years.
Although El Niño is gradually dissipating and a phase with higher rainfall (La Niña) is expected, positive effects will likely not be felt until the summer harvest of 2025. The winter harvest, starting in October, is expected to remain poor. Therefore, we recommend securing your supplies early to protect yourself from further rising prices. We are well-positioned and happy to assist you with your requests.
Bamboo
The raw material prices for bamboo are comparable to those of last year, and the offers from China have even slightly decreased. However, the currently very high sea freight costs force us to offer you higher prices than last year. We are, of course, available to discuss your order quantities for this year and to find the best possible terms for you.
Gherkins
This year’s gherkin harvest in Germany has been very successful thanks to favorable weather conditions. The quality of the gherkins is excellent, and no shortages are expected in the market. Nevertheless, we kindly ask you to place your orders early to secure quantities. The gherkin harvest in Turkey also performed well and has now concluded. Quantities for gherkins are only available on a case-by-case basis.
Pepper
The costs for Capsicum from Turkey have significantly risen: raw material prices have increased by about 70-80%, labor costs by approximately 90%, diesel prices for farmers by around 85%, and transportation costs by about 75%. Despite the stable currency, which has only increased by about 17%, the situation remains challenging for exporters due to continued currency suppression.
In this uncertain market situation, we recommend covering your quantities as soon as possible to secure the best prices. The cultivation of most bell pepper and chili pepper varieties looks promising, except for the Macedonian and Kardoula varieties. Thanks to cultivation in many different regions, an adequate supply of raw materials is available, and we anticipate a harvest approximately ten days earlier this year compared to last year.
Although we consider our sources to be reliable, we do not assume any liability for the completeness and accuracy of the information listed here.
