Mexican asparagus prices fall due to high supply

Fresh Asparagus
Market & Price Trends
Published Apr 11, 2024

Tridge summary

Due to favorable weather conditions, Mexican asparagus production has seen a significant increase, leading to an excess supply and a 44% drop in prices to US$10.85 per package during week 10 of 2023 compared to the same period last year. This surplus has prompted retailers to launch promotional campaigns, effectively boosting sales amidst the rising demand in the American market. With Mexico maintaining a dominant position in the North American asparagus market, especially after Peru's shipping season ends, and the early start of the Caborca season contributing to a 28% increase in production over last year, the industry remains optimistic about sustaining strong sales through timely promotions.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Mexican asparagus is experiencing excess supply amid an increase in demand in the American market. The season has already surpassed its production peak. Mexico's abundance of asparagus has caused a drop in prices, presenting an opportune moment for both retailers and consumers. During week 10, prices plummeted to US$10.85 per package, a 44% decrease compared to the same period in 2023. According to a recent USDA report, retailers are taking advantage of this scenario by launching promotional campaigns, which have proven effective in driving sales. Exporters are optimistic that the current price trend will further boost sales. One of the factors contributing to this surplus is the favorable weather conditions experienced by growers, which have led to increased yields. Cruz Carrera of Five Crowns Marketing highlighted the importance of Mexico's peak production phase, emphasizing that ideal weather conditions have contributed to the industry's robust supply. With asparagus shipments ...
Source: MXfruit
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