W46 Strawberry Updates: North America experienced increasing strawberry prices, while the Peruvian Strawberry Market Experienced Higher Strawberry Exports

North American Strawberry Prices Increased Due to High-Demand

Strawberry prices in the North American market increased by around 50% in W44 due to high demand. The harvests in Santa Maria-Oxnard, California, have entered the peak period. Due to a relatively low harvest volume, the trend is forecast to continue until Jan-24, barring adverse weather conditions, especially the rainy season in November.

The Salinas-Watsonville region has finished up its harvest. The strawberry harvest in Salinas-Watsonville is decreasing due to the aging of the plants, which are expected to be replaced soon. This will cause a supply reduction and further drive up prices. California expects a promising spring crop due to the significant rainfall this year. Unfortunately, the Mexican strawberry production has just begun so the export volume is not high at the moment, but the production and the export volumes are expected to increase gradually over the next few weeks and end in mid-November.

Peruvian Strawberry Exports Experienced a Significant YoY Increase

During Jan-23 to Sep-23, Peruvian strawberry exports experienced a significant increase of 43% in volume and 26% in value compared to the same period in 2022. This occured despite suffering a loss in cultivated hectares due to natural disasters. The United States (US) was the primary destination for Peruvian strawberries, with an import volume of 7,489 metric tons (mt), valued at USD 12 million. Although its volume increased by a mere 0.3% year-on-year (YoY), its value saw a notable 17% YoY decline. Meanwhile, Canada secured the second position with an import volume of 5,878 tons worth USD 9 million, witnessing a significant 26% increase in value and a 43% increase in volume.

Moreover, Australia and Belgium also joined as buyers of Peruvian strawberries in smaller quantities. Australia bought 37 mt valued at USD 600,000, while Belgium purchased 32 mt for USD 500,000.

Egypt's Strawberry Production Costs Remain Among the World's Lowest

The cost of strawberry production in Egypt has increased significantly in 2023 due to global inflation and the devaluation of the Egyptian pound. However, Egypt is still considered to have one of the most affordable production costs for strawberries globally. This is due to the availability of a highly trained workforce, low-cost energy, and locally-sourced inputs. Moreover, Egypt benefits from abundant, low-cost land and water. These factors, along with the expertise of Egyptian nurseries and growers, enable them to expand into other countries with similar production conditions to produce all year round.

South Korea's Golden Thread Strawberry Finds Its Way to Five Southeast Asian Countries

Jinju City, located in Gyeongsangnam Province of South Korea, has recently announced its plan to export 1.6 mt of Geumsil strawberries to five Southeast Asian countries, including Hong Kong and Singapore. Geumsil strawberries are considered one of the region's key agricultural products, with an annual export volume of over 3,000 mt, accounting for 80% of the total agricultural product exports.