A few cause of constant decrease in the price of Egyptian Valencia oranges in the Indian markets in week 16

Egypt Valencia orange prices in the Indian market are continuing downward trend with the latest wholesale prices reaching the levels of USD 11-11.5 per 15kg box of Class 1 category. Recently there was a bulk sale of 200 containers at USD 11/box which took the prices further down. It is expected that in the coming week 17-18, wholesale prices can be down to the level of USD 10-10.8/box.
The price decline has further been accelerated due to the opening of a new line by CMA which has reduced the transit time from Egypt to India from the normal transit time of 18-22 days to 10 days. This has resulted in buyers going for bulk purchases. Currently the cold storage nearby Nhava Sheva Port (Mumbai) is completely full. It is anticipated that there are approximately 500 containers stored in these cold storages and are waiting to be sold in the Indian markets.