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Mango monthly review: November 2023

Published on 13/12/2023 - Published by GERBAUD Pierre
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Informations

Product(s) : Mango
Rubrique / Thématique : Review and Forecasts
Country : Brazil , Peru
Keywords : Export , Import , Price , Production

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The mango market was very heavily dominated by the Brazilian supply throughout November. In the first half of the month, the relative under-supply to the market kept rates high. In the middle of the month, the trend was no longer as dynamic due to a slowdown in demand. The high prices charged for the previous several weeks was putting some purchasers off the product. Storms Ciaran and then Domingos had a big effect on sailing conditions, causing major shipping delays. Initially extending the under-supply, the shipping delays, combined with the increased volumes, quickly led to market congestion. Stocks formed more and more quickly, dragging the market into a downward trend which got worse at the end of the month. This trajectory was also magnified by the predominance of small-sized fruit in the incoming shipments, less sought-after by purchasers. Brazilian Kent, representing around 35 % of shipments, held up better against this reversal in the trend, though they saw a big downturn in prices from previous weeks. This tougher context saw the Peruvian campaign, with its small-sized fruit, get off to a hesitant start. Distinctly less substantial than last year, the situation for the start of this campaign was all the more complex since the merchandise purchase prices in the countries of origin were particularly high.

The air-freight mango market proved tougher because of the high asking prices, limiting demand. After a fairly stable first half-month, sale prices dipped thereafter under the combined effect of quiet demand and increased availability, from both Brazil and Peru. The arrival of batches of advanced maturity only intensified the sales slowdown. At the end of the month, some operators scaled back their orders in order to prevent market congestion and its logical consequence, price falls. The balance remained precarious because of the origin purchase prices and the transport costs. Many batches were sold on the threshold of or below cost prices.