Trendspotting: Seasonal trends impact produce prices
From
| 17 February 2023
Overview of strawberries in the U.S. market, complemented by charts from Agronometrics. Original published on February 14, 2023.
An increase in supply has led to a decrease in strawberries prices. After weeks of record-high prices, strawberry markets are down 18 percent.
“Prices are down due to improved supply and waning holiday demand. Supply out of California and Mexico has improved significantly, but production in Florida still needs to catch up,” said Mark Campbell, founder and CEO of ProduceIQ. Currently strawberry prices are at about $18.25.
Source: USDA Market News via Agronometrics.
(Agronometrics users can view this chart with live updates here)
Conversely, lime prices are on the rise again, up 23 percent over the previous week. Campbell said rain and cool weather delay harvest, intensifying the effects of a seasonal decline in supply as Mexican growers transition from the old crop to the new crop.
Florida corn prices are also up — to about $28. “The cold snap that brought beautiful surfing to south Florida a few weeks ago is causing a significant gap in supply,” said Campbell. Reported production volume out of Florida is below average for the week.
“Unfortunately for Florida corn lovers, the supply gap is expected to persist through what is usually the sweetest first weeks of the state’s corn season. Florida is cooler now, though it should warm up by the end of the week,” said Campbell.
The News in Charts is a collection of stories from the industry complemented by charts from Agronometrics to help better tell their story.
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