W45: Lemon and Lime Update

In W45 in the lemon and lime landscape, Peruvian lemon exports in Sep-23 reached 696 tons, valued at USD 951 thousand, a 64% year-over-year (YoY) decrease in volume and a 53% YoY decline in value. During this period, the average price stood at USD 1.37 per kilogram, a 31% YoY increase. Peruvian lemon exports during this period were sent to four destinations, half compared to the previous year.

Peruvian lemon exports to Chile reached 498 tons, valued at USD 650 thousand, a 49% YoY decrease in volume and a 15% YoY drop in value. The average price for Peruvian lemons in Chile was USD 1.30/kg, a 67% YoY increase. Also, Peruvian lemon exports to the Netherlands saw a significant decline, reaching 149 tons for USD 245 thousand, a 62% YoY decrease in volume and a 66% YoY decrease in value. The average price stood at USD 1.64/kg. Moreover, the United States saw a significant drop in Peruvian lemon imports, with 44 tons exported, valued at USD 50 thousand, 75% YoY less in volume and 70% YoY less in value. Despite this, the North American market price for Peruvian lemons was USD 1.12/kg, 20% YoY higher.

Brazil experienced a rise in Tahiti acid lime supply in Oct-23, and further growth is anticipated in Nov-23, reaching its peak during the harvest in Dec-23. As the supply of Tahiti acid limes continues to grow, prices are expected to drop, with a more significant decline anticipated from Dec-23 onwards. In Oct-23, Tahiti acid lime prices in São Paulo stood at an average price of USD 14.04 (BRL 68.92) per 27.2kg box, a 4.1% YoY drop compared to Sep-23 and a 17.4% YoY decline. Furthermore, Brazil's demand for Tahiti acid lime is increasing, with supply remaining stable. Tahiti lime prices in W45 stood at an average of USD 12.40 per 27.2kg box (BRL 60.88 per 27.2kg box), a 1.91%week-on-week (WoW) decline.