Demand for Spanish Navelina Oranges Declined in W47 as Egypt’s Navelina Campaign Is About to Start

The demand for Spanish Navelina oranges is declining in W48, especially with no more demand from the Middle East market because the Egyptian campaign is starting. In addition, the market is also less active since Spanish oranges are mostly available in small-to-medium calibres, which are less preferred by consumers. The producers have already bottomed out with the price and are selling at USD 0.83/kg EXW Spain in W47, which is essentially the break-even point. Therefore, the price in W48 is consistent despite the current drop in demand. The prospects for the upcoming weeks are not promising given Egypt's plans to send medium and small-sized oranges to most markets in large quantities.