Market Update for Stone Fruit

Week of April 22 – April 28

With an estimated 10 million boxes projected, California marketers don’t have to look past last year to know that promotions will be key to moving through this year’s volume. With inflation impacting grocery prices across the board, an impulse item like cherries will need to get the consumers attention. $2.99 – $3.99 per lb. has been the magic number to do just that but are marketers willing to support those prices with more aggressive FOBs? With an early start date coming from the Northwest, California growers will have to move through most of their volume in 6 weeks. If Memorial Day promotions can be set in the high $30’s for smaller fruit and high $40s for 10.5 row and larger, then the volumes could be manageable. If marketers hold out for more, then look for a repeat of last year’s disappointing results.