Greek Kiwi Prices Skyrocket in August Due to Supply Scarcity

There is a noticeable scarcity of kiwi fruit across markets at the end of August 2023. Italy's crop damage from floods and Spain's drought have shifted attention to Greek kiwi orchards. Independent Greek producers are capitalizing on high demand by harvesting immature kiwi fruit and selling them above USD 1.50/kg, driving up prices. This behavior is driven by a desire for high returns and profitability by producers. The buying activity is driven by small international buyers that are willing to pay high prices and in cash. This disrupts the plans of prominent buyers who rely on established supply channels to avoid price surges. The prevailing high prices levels are expected to continue unless there is an oversupply from Iran or major European retailers reject these new price levels.