USA: Markets bite into summer with significant increases in commodities

Published 2023년 6월 19일

Tridge summary

The article provides an overview of the current state of produce prices in the Northern Hemisphere, highlighting increases in several commodities such as raspberries, celery, and sweet corn, despite a drop in cherry prices. Pear prices are experiencing a ten-year high and are expected to rise further due to low supply. Avocado prices have also increased due to increased demand, the delayed start of the new Loca crop, and the seasonal end of the old crop. Meanwhile, celery prices are falling after a spike, and raspberry prices are at their second highest in ten years due to cool weather in California's growing regions. The ProduceIQ Index is a shipping point price index that provides the industry-wide price per pound at the location of packing for domestic produce and at the U.S. port of entry for imported produce, using 40 top commodities as representation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This week marks the beginning of the Northern Hemisphere summer season, and the weather isn’t the only thing heating up. Significant increases in commodities such as raspberries, celery, and sweet corn are balancing the scale and steadying the index. Even with the continued hemorrhaging of cherry prices, average produce prices are flat over the prior week.ProduceIQ Index: $1.12/pound, flat over prior weekWeek #24, ending June 19thBlue Book has teamed with ProduceIQ BB #:368175 to bring the ProduceIQ Index to its readers. The index provides a produce industry price benchmark using 40 top commodities to provide data for decision making.Pear prices are at a ten-year high and are forecasted to rise further due to low supply. Washington is nearly finished, and import supply is snug, especially on smaller-sized fruit. California isn’t expected to provide relief until late July. As a result, expect prices to soar far beyond the historical precedent over the next few weeks.Pears, 18kg, ...

Source: Producebluebook