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Pineapple monthly review: January 2020

Published on 27/02/2020 - Published by PAQUI T.
Free

A buoyant market

Informations

Product(s) : Pineapple
Rubrique / Thématique : Review and Forecasts
Country : Benin , Cameroon , Costa rica , Ghana
Keywords : Export , Import , Price , Production

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Throughout January the pineapple market was buoyant, with a very positive trend in terms of price. Several factors (falling availability, poor climate conditions and numerous shipping delays) combined, which resulted in Costa Rica massively scaling back its supply to the European market. The climax of this fall was week 4, when the market was mostly supplied by origins other than Costa Rica. Throughout the month, operators involved with the supermarket sector struggled to meet their commitments, which sent spot market rates soaring upward. In a context of a much smaller overall Sweet supply, it is important to note that contract prices held up, and that they continued to represent the bulk of sales, while spot sales only involved a limited part of the available supply.

The air-freight market in January was mainly fluid. There was a smaller overall supply since several operators, anticipating a fall in demand after the end-of-year festivities, scaled back their imports. Despite Benin making a comeback at the very end of the month, the Cayenne supply, although diverse, was fairly limited. MRL breaches on fruit from Cameroon and Ghana forced certain operators to step up their self-inspection procedures, which limited availability of Cayenne. The Sugarloaf supply continued to sell well. However, because of the concerns due to possible MRL breaches, demand was observed to be more sluggish for green fruit. The poor climate conditions in Costa Rica hit Sweet availability hard. This paucity of the Latin American supply helped Ghanaian fruit gain a better foothold, and above all sell at prices equivalent to those of their Latin American competitors.

As could be expected, demand for Victoria fell steeply after the end-of-year festivities. In January, the market was often swollen since demand could not absorb the stocks of fruit received at the end of the year. At the end of the month, due to imports being scaled back by several operators, the market regained some fluidity.