W11 Lemon and Lime Update: Brazilian Lime Prices Rise 2.95% WoW, Italy's Lemon Market Struggles with Decreasing Purchasing Power, and Argentina's Tax Reduction Plan Could Impact Tucumán Lemon Market

Published 2024년 3월 22일

In W11 in the lemon and lime landscape, Brazilian lime prices surged by 2.95% WoW due to rising demand, while Italy's lemon market faced challenges due to decreasing purchasing power. Meanwhile, Argentina's tax reduction plan may impact the Tucumán lemon market. On the other hand, California's District One is seeing improvement in lemon supply, while District Two is expected to contribute more. Lastly, Bangladesh has imposed a price cap on lemons to control market rates.

Brazilian Lime Prices Surge by 2.95% WoW Amid Rising Demand

The Brazilian lime market is experiencing a weekly increase in demand, especially with the onset of warmer weather. This surge in demand is driving prices up steadily. In W11, the price for a 27-kilogram (kg) box of limes reached USD 6.20, showing a significant 2.95% week-on-week (WoW) increase.

Challenges and Opportunities in Italy's Lemon Market Amidst Decreasing Purchasing Power

In Italy, the decrease in purchasing power affects the fruit and vegetable supply chain, particularly lemon production. However, the limited strawberry supply drives good sales, and foreign clementines are fetching favorable prices. The Italian market expects an uplift with improving weather and is investing in digitalization and logistics for infrastructure enhancement.

Argentina's Tax Reduction Plan and its Potential Impact on the Tucumán Lemon Market

Argentina's government plans to reduce taxes on imported basic goods to help stabilize consumer prices, which might impact the Tucumán lemon market. The President of the Northwest Argentine Citrus Association (ACNOA) clarified that the aim is to prevent unfair price hikes in supermarkets. They expect lemon production in Argentina to be similar to 2023, but challenges in the European market could lead to a decrease.

California Lemon Supply Improves and Anticipates Consistent Availability into March and April

California's District One is seeing an improvement in its lemon supply, particularly in larger fruit sizes. However, smaller fruits remain limited. District Two is expected to contribute more supply in the upcoming weeks, ensuring ample availability of lemons throughout Mar-24 and Apr-24. The sizing of the lemon crop for the 2023/24 season is largely influenced by the rainfall during California's bloom season. As of W11, California is the primary supplier of lemons in the United States (US), with District One accounting for about 80% of the supply and District Two contributing the rest. Additionally, Mexican and Argentinian lemons are anticipated to be strong, while Chile expects to become a significant player in the summer months.

Bangladesh Sets Price Cap on Lemons to Control Market Rates

Bangladesh's State Minister for Commerce has imposed a price cap on lemons at USD 0.37 (BDT 40) following a sudden surge in lemon prices. This decision was made during a meeting with traders at the Aminbagh Cooperative Market Society Limited. The move came as one-Hali (four pieces) prices reached between USD 0.55 and 0.73 per Hali (BDT 60 and 80/Hali), causing concern among consumers and authorities. They also emphasized the government's efforts to stabilize the market and ensure affordability of essential goods. He also announced strict measures against unlicensed traders and highlighted the government's commitment to correcting market imbalances and protecting consumer rights.