Market Update for Table Grapes
Week of February 6 – February 12
We have already started to see the general spot market for imported table grapes adjust lower over the past 7 to 10 days and that trend looks to continue through the balance of the month. Don’t look for a sharp drop though, as volumes from Peru were interrupted and we won’t see a flush of new arrivals until the end of the month. Growers in Ica have been hitting it hard over the past week, as more threats of protests are impacting their decisions to not leave fruit hanging for the later part of the season. This past week, growers were able to empty their cold storages and the combination of that fruit going on water with the big numbers being packed this week will have the U.S. east coast flush with fruit by the first full week of March.
Some pretty good volumes of Chilean red seedless will hit the U.S. east and west coasts over the next 10 days, but varieties will be mostly conventional. Although this volume will certainly send the spot market lower, pricing for premium fruit should hold. The interruption of Peruvian shipments should keep pricing stable through the balance of the month, while Chilean pricing will steadily drop over the next three weeks. Growers in Ica are assessing losses after being shut out of their farms for more than 10 days, but the industry is still set to receive some big numbers by the end of the month. Currently, the spot market ranges from $18.00 to $20.00 for medium Chilean flames, $22.00 to $26.00, with the mostly market at $24.00 for large and $26.00 to $30.00, with the mostly market at $28.00 for Peruvian premium varieties. FOBs will continue to adjust lower over the next two weeks, so promote with confidence.
Peruvian green seedless pricing has held firm since the beginning of the season but look for the markets to start slowly adjusting lower through the balance of February. Decent volumes from Chile are filling what was an empty pipeline, but many retailers still prefer to pay a premium for Peruvian proprietary varieties. Big numbers from Peru are on the way, but that fruit won’t be here until the end of the month. The current spot market ranges from $24.00 to $26.00 for large fruit, $26.00 to $28.00 for XLG and $28.00 to $32.00 for jumbo. Value lots of Chilean fruit are being discounted by almost $2.00 to $4.00, so we will start to see a split market between Peru and Chile. With strong arrivals set for the end of the month, March is setting up nicely for green seedless promotions.
Overall arrivals of imported black seedless continue to be only fair, leaving the market solid. Pricing currently ranges from $28-$32 with the mostly market at $30. Expect to see arrivals and demand to stay in balance through the end of the month and adjust lower when we see arrivals from Chile in a few weeks.