W48 Lemon and Lime Update: Growth in Global Exports and Declining Market Prices in Peru and Brazil

Limón fresco
Market & Price Trends
Publicado 6 de dic. de 2023
In W48 in the lemon and lime landscape, Chilean citrus exports have grown by 48% YoY and 16% over the last three seasons, with a 20% YoY increase in lemon exports. Peru's wholesale lemon prices dropped by 52.28% YoY in Nov-23 due to harvest drops and the El Niño phenomenon. Tahiti acid lime prices in São Paulo also dropped due to surplus and low quality. In addition, Spanish lemon prices declined due to a shortage in the European market. Lastly, Chinese lemon prices in Vietnam are declining due to increased imports and market saturation.

Chilean Citrus Exports Surge by 48% YoY

Chilean citrus exports have significantly increased, with a 48% year-over-year (YoY) growth and a 16% rise over the last three seasons. The total export volume reached 395.8 thousand tons, with clementines holding a 15.5% market share, mandarins a 43.7% share, oranges a 23.7%, and lemons 17.1%. Lemons experienced a 20% YoY increase, with total shipments reaching 67.6 thousand tons. 61.6% of Chilean lemon exports were destined for the United States (US), while 33.6% were directed to the Far East. The European Union (EU) received 4.4% of the Chilean lemon exports, while the remaining shipments were distributed between Latin America and Canada.

Wholesale Prices of Lemons in Peru Dropped by 52.28% YoY in Nov-23

The wholesale price of fresh lemons in Lima, Peru, decreased by 52.28% YoY from USD 1.08 per kilogram (kg) in Nov-22 to USD 0.51/kg in Nov-23. The price decline was attributed to harvest drops in regions affected by Cyclone Yaku and the El Niño phenomenon. The Ministry of Economy and Finance is considering importing more lemons to address supply shortages and reduce inflation. The inflation rate reached 5.04% in Nov-23, and food prices stabilized.

Tahiti Acid Lime Prices Plummet in Brazilian Market Due to Surplus and Quality Issues

The São Paulo market has seen a significant drop in Tahiti acid lime prices due to fruit oversupply and low quality of available limes. The surplus supply is due to a high harvest, but adverse weather conditions have compromised the quality of the limes, leading to reduced fruit size and less appealing fruit to consumers. The intense competition in the market and consumer preferences for visually appealing fruits have heightened pressure on Tahiti acid lime prices, forcing farmers and distributors to adapt and find strategies to maintain market competitiveness.

Spanish Lemon Prices Decline Amidst Low Demand in European Market

The Spanish lemon industry is facing a shortage of demand from the European market, leading to a continuous price decline. Lemon prices averaged between USD 0.35 and 0.40/kg (EUR 0.32 and 0.37/kg) in W45. The irregular supply of Turkish lemons to the European market is due to the interception of unsuitable consignments, excluding them from supermarket chains.

Declining Chinese Lemon Prices in Vietnam Amid Import Increase and Market Saturation

In Vietnam, Chinese lemon prices are declining due to increasing imports and market saturation. The cool weather in Ho Chi Minh City has slowed the sale of cooling drinks, contributing to a shortage of Guangdong lemons. Wholesale prices ranged from USD 1.03 to 1.44/kg (VND 25,000 to 35,000/kg), while older, yellow-colored Cantonese lemons prices stood below USD 0.83/kg (VND 20,000/kg). The trend of hand-pounded lemon tea has peaked and shows signs of decline, leading to a decrease in raw material prices.

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