Market Report March 2025
Pineapple
Availability constraints persist across all major origins, particularly Thailand, Indonesia, and the Philippines. Many producers are struggling to fulfil their contracts. The situation in Thailand is particularly severe: Currently, less than 3,000 metric tonnes of raw material are being processed per day. Even at the peak of the summer harvest in April/May, only a slight increase to around 3,500 tonnes per day is expected. The volume forecast for 2025 has been reduced to 700,000 tonnes, marking the second consecutive year at this record low. For comparison, the 10-year average stands at 1,200,000 tonnes.
This development is primarily attributed to the aftereffects of the 2023/24 El Niño – the most severe on record. Even increased rainfall in the second half of 2024 could not compensate for the prolonged drought that preceded it. Currently, raw material prices range between 15–19 THB/kg (previous year: 10.5 THB/kg), with projections indicating a further increase to 20 THB/kg.
We do not anticipate a significant improvement and strongly recommend securing required volumes.
Tuna
The tuna market in Ecuador (FAO 77/87) remains stable, with raw material prices holding steady at $1,600/mt. However, prices from the Philippines (FAO 71) have risen significantly due to low catch volumes, increasing from $1,575 to the current level of $1,700.
Papua New Guinea is re-emerging as a sourcing region, driven by increasing government and private-sector investments in the tuna industry. As a result, we will soon be able to offer supply in 7 kg pouches from this origin. We recommend securing volumes early.
Peppers
Driven by the record weakness of the Turkish lira, the Turkish market is virtually empty, with larger availabilities not expected until September 2025.
Meanwhile, the Egyptian harvest – both open-field and greenhouse production – is only just beginning. Initial indications point to attractive pricing. Peruvian producers are struggling with high production costs due to a 9.3% increase in minimum wages. On the other hand, the young South African market is expanding its range with new products such as mini peppers and sweety drops.
We recommend covering short-term requirements. We will keep you updated on the progress of the Egyptian harvest.
Coconut
We are receiving mixed reports from Indonesia, Thailand, Sri Lanka, and Vietnam: Indonesian suppliers are significantly expanding their plantations and reinforcing dikes to improve flood protection. As Thailand has imposed an import ban and is no longer a key sales market, coconut prices have recently declined – a trend expected to continue after the Lebaran festival in April.
In contrast, prices for Thai coconuts have surged by approximately 50% due to El Niño and strong global demand. After a brief decline in Sri Lanka in recent weeks, prices are now trending upward again. Price fluctuations occur almost daily, and offers are only valid for a few days. The global coconut market remains highly volatile and opaque. There are currently good opportunities – please contact us for detailed consultation.
Asparagus
Due to last year’s low asparagus prices, many farmers in China have abandoned cultivation this season, leading to a supply shortage. Additionally, extreme weather conditions last summer caused severe flooding, submerging many asparagus fields. As a result, a significant harvest decline of approximately 15–20% is expected this year. Moreover, existing stock is fully depleted, driving prices up sharply.
While many Peruvian producers have shifted away from asparagus in recent years in favour of higher-margin crops due to competitive Chinese pricing, this year’s harvest is expected to be very strong. This will make Peru more competitive again, although prices will remain well above Chinese levels.
Given the limited availability, we recommend securing volumes quickly. Please feel free to contact us.
Gherkins
Acreage reductions in Turkey have driven initial price indications higher at the start of the harvest. Supply remains tight – we recommend securing volumes early.
Logistics: Sea Freight
The sea freight market remains uncertain. A return to Red Sea routes is not foreseeable, while global geopolitical tensions and economic uncertainties, such as those in the USA, are making demand unpredictable. Shipping companies are attempting to reduce capacities in the short term as new alliances come into effect. Gemini (Maersk/Hapag) is setting new standards to bring schedule reliability back to pre-pandemic levels.
Although we consider our sources to be reliable, we do not assume any liability for the completeness and accuracy of the information listed here.
