Increased Supply of Spanish Plum in the Middle of the Season Is Pushing Prices Down

Published 2022년 7월 18일

Adverse weather in Spain, hail, heavy rains, and most of all, frost in April caused severe damage to stone fruit production in 2022. Despite rising wholesale prices of fresh plum in W2 of June-22 to USD 2.33/kg, based on Tridge data, the price fell to USD 1.25/kg in W2 of July-22 with the advancement of the harvest season and supply increase. Spain was ranked first in the export of fresh plum globally with a share of 17.7% and a total value of USD 167.23M for 2021.

Spain stone fruit production for season 2021/22 had serious setbacks influenced by extreme weather like hail, heavy rains, and frost. Plum production is essential in Spain, where it is ranked among the top ten producers of fresh plums globally. According to Nicolas Pagliettini, Global Origination Manager at Tridge, Spanish plum prices have witnessed a fall in W1 of July-22 at around USD 1.40/kg, with quoting prices for W2 of July-22 at around USD 1.25/kg. The wholesale price of Spanish plum in W2 of June-22 was USD 2.33/kg, which makes it a 46.35% MoM decrease.

A significant drop in stone fruit production is predicted due to unfavorable weather conditions in Spain. Spain’s plum volumes are estimated at 143,652 mt, a decrease of 14.30% YoY. The frost in April caused the most significant damage, and the lack of fresh plums was the main reason for the price increase in June. However, the situation turned around in July due to the rise in supply and the campaign's advancement.

Source: Tridge

For most plum varieties grown in Spain, July represents the peak of the harvest season, with abundant quantities of fresh plums available on the market. However, according to experts at Tridge, there may soon be a shortage in supply due to the delay in fruit maturation. Farmers will decide whether to pick fruits to fulfill contracts or to wait until the fruit reaches the expected quality.

Plums are suitable for deep, permeable, light soils, rich in phosphorus, potassium, and humus. Plums can tolerate heavier soils, but for safe and regular fertility, it is necessary to improve the properties of such soils with various agromelioration measures, with the obligatory addition of manure. The best soil acidity for plums is from 6 to 7.5 pH. In soil that has more than 10% lime, plum does not thrive.

Source: Tridge

Spain was ranked first in plum exports with a share of 17.7% and a total value of USD 167.23M in 2021. Germany, Great Britain, Brazil, France, and Italy were the main trade partners. Total quantities of exported plums in 2021 amounted to 116,298 mt, which is a 29.40% YoY increase. However, the 2022 decrease in production will affect exports, while the price of fresh plums is expected to rise in the coming period as September and the end of the season approaches.