ProduceIQ: Prices begin decline as new crops warm-up in the US

Published 2023년 5월 1일

Tridge summary

Florida's severe weather has caused minor production losses, but damage is being offset by movement of production to Georgia. Overall, produce prices are decreasing due to increased production in the West, new spring crops, and lighter demand. The ProduceIQ Index reports a 7.4% decrease in produce prices over the past week, with specific commodities like grapes and celery experiencing significant price drops. However, heavy rain in the Southeast has led to supply issues in tomatoes, with cherry and grape markets finding stability due to increased Western supply. The ProduceIQ Index is a fair benchmark for industry price performance, representing the industry-wide price per pound at the location of packing for domestic produce and at the port of U.S. entry for imported produce.

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

Original content

Lots of insane weather in Florida and throughout the Southeast this past week. Heavy rain, golf ball-sized hail, severe wind, and even a few tornadoes in Palm Beach County caused damage to the homes, cars, and the remaining crops of producers in the state.Fortunately, Florida production is moving quickly to Georgia, and reported losses caused by the severe weather are relatively minor. Overall industry-wide produce prices are down due to increasing production in the West, transitions into new spring crops, and lighter demand.Blue 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.ProduceIQ Index: $1.12/pound, down -7.4 percent over prior weekWeek #17, ending April 28thMother’s Day is still a few weeks out. The holiday tends to be one of the biggest of the year for foodservice. That’s because the last thing any wise spouse should ...

Source: Producebluebook