Price of Peruvian asparagus increases 35% in the US
Sustainability & Environmental Impact
Market & Price Trends
Published Dec 5, 2023
The Peruvian asparagus industry faced difficulties due to natural disasters and pandemic-related challenges. Heavy rains caused by El Niño and Cyclone Yaku negatively impacted asparagus production and logistics. The pandemic and strict fumigation requirements imposed by the US also affected market access and profitability. Despite these challenges, prices remained high in 2023 due to unusual weather patterns and efforts are being made to expand market reach in the United States.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
An exhaustive report by Fresh Fruit Peru suggests that the initial decline in Peruvian supply could be attributed to the disincentive induced by the escalation of freight rates, especially air freight, during the pandemic. This phenomenon significantly affected profit margins. Additionally, strict fumigation requirements imposed by US health authorities created barriers for many producers seeking contracts with importers in this critical market. This regulatory imposition not only made market access difficult, but also inflated the general cost structure, decreasing the attractiveness of asparagus cultivation in the country. To compound these problems, new plantings stagnated, as the most demanding producers, faced with declining profitability, opted to replace asparagus crops with more lucrative alternatives. The trend gained momentum in 2022, when increased production levels in Mexico and Europe caused a sharp decline in international asparagus prices. However, in 2023, both ...