Vegetable prices on the downside as demand slips towards midmonth

fnb vegetable markets
  • Last week’s vegetable prices showed moderate to sharp declines across the board as demand slipped towards mid-month despite a substantial contraction is supplies across markets. The vegetable complex saw losses across most commodities with lettuce and carrots leading the pack and finished down by a whopping 19.5% and 18.5% respectively week-on-week (w/w) at R11.67/ kg and R2.75/kg.
  • In the fruit market, the weekly trend in prices however remained mixed with 66% of the commodities tracked posting good gains on the back of reduced volumes on markets. Seasonal supply constraints pushed the mango and grape prices up by 173% and 85% w/w and almost 24% and 48% higher year-on-year (y/y) respectively at R37.93/kg and R53.27/kg. Bananas and apple prices however closed on the low side, finishing last week down 1.5% and 1.2% w/w but still 47% and 3% higher relative to last year at R8.20/kg and R6.83/kg.
  • The yearly trend shows a continued to strength in both the fruit and vegetable markets with most commodities posting moderate to sharp gains. All fruit commodities tracked are currently way sharply higher relative to last year largely due to seasonal supply tightness. In the case of vegetables, carrots, tomatoes, and cabbage were the only exception with y/y decreases of 13%, 11%, and 9% respectively, see figures A and B. Seasonal supply tightness for some of the fruits will continue to influence price direction in the short to medium term.
  • Weekly apple export sales for week 28 came in 16% ahead of last year at 1.125 million cartons which brought the year to date cumulative total shipments to 19.32 million cartons, which is 1% higher y/y. So far, the Far East Asia, Africa and the UK collectively accounted for the biggest share of 76% of the total exports at 34.1%, 22.8%, and 19.1% respectively.
  • In the pear market, weekly exports increased by 8% y/y, coming in at 245,768 cartons which brought the cumulative year to date figure to 12.89 million cartons but still trailing last year’s by 2.2%. Major destinations were Europe, the Far East and Asia, the Middle East and Russia which collectively accounted for 87.5% of the total exports at 34.9%, 19.1%,16.8%, and 16.8% respectively.
Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Latest Articles

Latest Videos