Market prices decline on increasing Mexican supply

Published Dec 20, 2022

Tridge summary

The agricultural news article reports a decrease in the prices of lettuce, strawberries, and tomatoes in the US market, with lettuce prices averaging $74, down 10% from the previous week due to increased supply. Strawberry markets are also experiencing a downward trend, despite increasing domestic and Mexican production. In contrast, lime prices have seen a 26% increase due to a seasonal dip in Mexican production, and raspberry prices have risen by 49% due to a transition in production but are still not at expected high prices for this time of year. The article anticipates that tomato prices will continue to fall as supply increases, while lime and raspberry prices are expected to rise further in the coming months.

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

Original content

Lettuce markets are declining, yet still in record-breaking territory as the USDA reported iceberg to be sold for at an average of $74. Overall, prices are down about 10 percent versus last week, primarily due to increasing supply. “Much of the fall season has been marked by abnormally high prices, most notably for commodities such as lettuce and strawberries,” said Mark Campbell, founder and CEO of ProduceIQ. “Now, increased availability from domestic growers, as well as Mexican production, is reducing supply-based pressure.” He added that increasing supply out of Mexico and Florida is an early Christmas gift for price-weary Strawberry buyers. “Although supply is slowly recovering, strawberry markets are holding tight to a downward trend,” he said. “Expect markets to continue their dramatic descent throughout the new year.” In the tomato market, prices are benefiting from increased Eastern production. Tomato prices are down about 34 percent over the prior week. Grape-type tomato ...

Source: Theproducenews