In W46 in the mango landscape, Peru's Kent mango season has commenced with an impressively high price compared to last season due to a yield drop of up to 80% year-on-year (YoY) caused by the El Niño climate phenomenon. The high temperatures adversely affected the flowering process, leading to a subpar harvest. As a result, the price of a crate weighing 20 kilograms (kg) reached USD 44.55 (SOL 200) for air export and USD 15.45 (SOL 70) for sea export, which is 39 times higher than last season's price.
In addition, the predicted inclement weather in the upcoming month could significantly impact Peru's mango quality. Excessive rainfall could cause the mangos to spoil faster than usual, thus negatively impacting exports. As a response, Peru plans to capitalize on frozen products to address the issue of fresh mangos spoiling. The United States (US) remains the primary destination for Peruvian frozen mangos, taking a market share of 36%.
Palmer mango prices in the São Francisco Valley in Brazil traded at USD 0.58/kg in W46, an 11% drop compared to W45. At the same time, the Tommy variety decreased slightly by 5% week-on-week (WoW), trading at USD 0.32/kg. The reason behind this price drop is the increased volume inflow, which has led to stiff competition in the market. Despite this, the demand for mangos remains favorable, both locally and internationally. The mango volume is expected to reduce next week, which may help stabilize prices.