November was characterised by a fairly stable market for the mango. The Spanish campaign wound down gradually with limited quantities of Keitt. The decline in Spanish volumes came alongside Brazil coming to the fore with its winter campaign in full swing. This increase in volumes, accompanied by a varietal modification (fall in Tommy Atkins and rise in Kent), proceeded gradually. In the middle of the month, Brazilian shipments became large and brought a degree of balance to the market between the expanding supply and more dynamic demand. The accumulation of tonnages and the start of the Peruvian campaign caused a deterioration in market conditions at the end of the period.
The air-freight market was more mixed. With the Peruvian campaign starting early, the price gap with Brazilian produce gradually widened as time went on. The Brazilian produce, of more varied quality, underwent a perceptible price cut in the first half-month. In the latter part of November, the overabundance of produce drove all rates downward.
December was considerably more eventful than the previous month. The overlap of the Brazilian and Peruvian campaigns led to a significant oversupply, which actually choked the market in the second half-month. The Peruvian export campaign, which came early as predicted, first of all saturated the air-freight market, with substantial overall tonnages, and more importantly exceeding the market absorption capacities. Prices gradually took a downturn. The rates specified below correspond to sales of superior quality produce. Many sales were made at lower prices (from 2.00 euros/kg). The market was also disrupted by logistical problems, causing shipments delays and the sale of highly mature batches, which therefore earned less value.
The very steep rise in incoming Peruvian shipments in the second half of December literally drowned the market, although the Brazilian shipments were ebbing at the same time. For several weeks, the European market received particularly big volumes, much more than 400 containers per week, a hitherto unknown tempo for the mango. So the formation of stocks weighed down heavily on transactions, with increasingly frequent sales from 2.00-2.50 euros/box, especially for small sizes. Market conditions could face a slow and difficult recovery.
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