ProduceIQ: Prices dropping despite the weather problems in the US

Published 2023년 5월 22일

Tridge summary

The U.S. is expected to experience El Nino weather conditions leading to cooler and wetter summers in the South and drier and warmer summers in the North. The ProduceIQ Index reports that produce prices are at their lowest since 2018, while fresh seafood retail sales are declining due to inflationary prices. Tomato and celery prices are surging, and the onion season in Texas has ended due to heavy rain, leading to a increase in onion prices. Meanwhile, ideal growing conditions are expected to increase the supply and lower prices of California strawberries.

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

Original content

The U.S. has a nearly 90 percent chance of seeing El Nino weather trends persist this summer. So what does that mean for fresh produce? In general, this means the South can expect cooler and wetter than average weather (welcome news for non-snowbird Florida residents), and the North can expect dryer and warmer than average weather.Forecasters are projecting that this summer may be the coolest summer since 2017, primarily due to temperatures forecasted to run below average throughout June.ProduceIQ Index: $0.99/pound, up -2.9 percent over prior weekWeek #20, ending May 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.At $0.99, the ProduceIQ Index price average is the lowest week #20 has been since 2018. Interestingly, IntraFish reported on Friday that fresh seafood retail sales dollars are on a steady two-year decline ...

Source: Producebluebook