W32: Lemon and Lime Update

In W32 in the lemon and lime landscape, Tahiti lime prices in Brazil have been rising since mid-June, with quotations increasing in Jul-23 due to a significant supply decrease in São Paulo State. There is low demand due to the cold weather, but the average price for Tahiti lime is still at USD 7.26/27kg (BRL 36.20/27kg), 94% higher than in Jun-23. The lime supply is expected to decrease further in Aug-23, causing even higher prices. Brazilian farmers receive high quotations abroad, with high demand from Europe due to the Northern Hemisphere's summer and low supply from Mexico, Brazil's major competitor.

Chile's lemon crop is expected to be similar in size to last year due to an early frost, preventing oversupply. Argentina and Chile's lemons are expected to be available in the United States (US) until the end of Sep-23, possibly into early Oct-23. The pricing of lemons is more stable, with stability in spot markets leading to favorable returns for growers. Mexico will become the next major supplier after the Argentinean-Chilean season ends. However, lemon growers are requesting extended shipment periods due to drought-related concerns. Meanwhile, Mexico's lemon season is expected to be delayed by two weeks, and insufficient rainfall may affect sizing. The supply is expected to peak on sizes 165-140, with a shortage of larger fruit contributing to sustained high and stable prices.

Over the past six months of 2023, Uzbekistan's lemon exports have increased by 40%. From Jan-23 to Jun-23, agricultural enterprises in Uzbekistan exported 3.5 thousand tons of lemons to seven different countries, reaching a value of USD 2.9 million. This volume witnessed an increase of 968 tons compared to 2022. Notably, the lemon supply in Uzbekistan has surged by one-third within a week, particularly amid a lemon shortage crisis in the Central Asian region. Lastly, according to the Deputy Minister of Agriculture in Kyrgyzstan, China plans to increase the exports of limes, lemons, and pears to Kyrgyzstan. The Chinese delegation from Guangdong Yunong discussed product quality issues and agreed on standards for fresh, safe, and high-quality fruit delivery to Kyrgyzstan's consumers.