W24: Lemon and Lime Update

In W24 in the lemon landscape, it was reported that the US has been receiving lemon imports from Argentina since May 2023, with both conventional and organic varieties available. The lemon is exported weekly to the Northeast region of the US, and the Argentinian lemon season typically extends until August 2023. The transfer time for lemons from Argentina varies between three to four weeks, and the transit time from Chile to the US is approximately one month. According to the U.S. Department of Agriculture Foreign Agricultural Service (USDA FAS), lemon production in Chile is forecasted to increase by 26.4% in 2022/23, reaching a total of 172 thousand mt. In 2022/23, the total area planted in Chile reached 8,080 hectares, a 0.5% increase YoY. Lemon production and exports have increased as a profitable alternative in the Coquimbo, Valparaiso, and Metropolitana regions. The Metropolitana region, in the central part of Chile, holds 41.1% of the lemon-planted area, making it the top-producing region. In 2022/23, lemon exports are expected to increase by 33.9% and reach 75 thousand mt following the increase in production and drop in freight costs. The United States is the top market for Chilean lemons, exporting 31,222 mt to the United States, Japan, China, and South Korea. The availability of lemons in the UK market is becoming limited due to a decrease in supply from Argentina. According to Capespan's commercial director, prices for South African lemons on the UK market are strong. The availability of Spain's Fino lemons has significantly declined, and the summer variety Verna is not in high demand due to its low juice content and thick skin.

During the W22 2023 Peruvian lime campaign, there was a 24% YoY decline in lime shipments, amounting to 343 tons. However, the total accumulated volume for 2023 stands at 17,222 tons, indicating a 23% increase compared to 2022. The export of Peruvian lemons was primarily carried out by eight companies, with Camposol SA, Ecosac Agricola SAC, and Trapani Cultivares Per SAC leading the way. The port of Paita accounted for nearly 99% of the exported volume. Tahiti lime prices have been reacting in the domestic market due to a decrease in supply. In São Paulo, the Tahiti lime variety was traded at an average price of USD 3.76/box of 27kg (BRL 17.96/box of 27kg), showing a significant appreciation of 33.8% compared to the previous period. Researchers at Cepea highlight that this price increase is encouraging, especially considering that Tahiti limes had been sold at very low prices since mid-May 2023.