Peruvian pomegranate exports could register a drop at the end of the year

Published Jul 12, 2024

Tridge summary

Peru's pomegranate exports are projected to decrease by 30% in volume and 2% in value by the end of 2024 due to challenging climate conditions. Despite the drop, a 48% increase in fruit price has slightly mitigated the value loss. Over 90% of these exports are received in the first half of the year, mainly by Europe, with Spain being the leading recipient. The reduction in Peruvian pomegranate shipments has allowed India and China to increase their exports to Europe. In the United States, Peruvian pomegranate shipments experienced a 9% volume decrease but a 30% rise in price, resulting in an 18% increase in value received.

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

Original content

Global demand for pomegranates has been increasing, however, the Peruvian fruit has not been able to fully take advantage of this trend. As of May 2024, Peru has exported 29,946 tons worth $84 million, concentrating mainly in the first half of the year. These figures indicate that it is expected to close the year with a 30% drop in exported volume and a slight contraction of 2% in the total value received. According to FreshFruit, with the difficult climate situation in 2023, the expansion gained was put at risk. And although at the beginning of 2024 it may have seemed that things were going in a different direction - starting January with a growth of 268% - as the campaign progressed, it became evident how resentful production is due to climatic phenomena. In principle, the peak of the campaign was brought forward about four weeks, with lower volumes. And, perhaps more importantly, this led to reduced margins for producers, a situation that has led many to migrate towards ...

Source: AgroPeru