Weekly Product Updates

W40: Peach & Nectarine Update

Fresh Nectarine
France
Market & Price Trends
Fresh Peach
Fruits
Iraq
Published Oct 13, 2023
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In W40 in the peach and nectarine landscape, the United States Department of Agriculture (USDA) has released a report on the global stone fruit trade, focusing on Turkish fruit and its importation into Russia. Russia is the leading international importer of peaches and nectarines, accounting for nearly 40% of the world's imports. Turkey is expected to harvest 1 million tons of peaches and nectarines, leading to the requalification of some orchards to meet the increased demand for nectarines. While foreign Turkish exports, especially to Russia, Iraq, and the European Union (EU), are projected to grow, domestic fruit consumption is expected to decline. Expert forecasts indicate that Russian imports of Turkish peaches and nectarines will remain stable at approximately 315 thousand tons.

On the other hand, the USDA’s National Agricultural Statistics Service (NASS) estimates that peach production in the United States (US) is projected to decrease by 13% year-over-year (YoY) in the 2023/24 season, primarily due to abnormally wet and cool weather.

The 2022/23 French apricot campaign started later than usual, reducing the impact of adverse weather during harvesting. Fruit quality remained good, due to consistent sunshine. However, mid-Aug-23 storms weakened fruit production for a couple of weeks. Despite economic challenges and unfavorable weather in parts of France, the peach and nectarine market maintained a relative balance. Spanish competition existed, but steady sales and improved weather sustained high demand in France.

Furthermore, French flat peach production is increasing and aims to meet the high local demand, with some peach producers already producing 5 thousand tons. However, French production faces stiff competition from Spain due to higher costs. Spain's low prices and large volumes make competing in the market challenging for the French fruit. Retailers may prefer the less expensive Spanish flat peaches. Nonetheless, factors like origin, environmental considerations, and carbon sequestration in orchards may favor the French product. A notable change is expected by the end of 2023, separating Spanish flat peaches from the round variety.

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