MARKET UPDATE WEEK # 35
Good Afternoon,
As Hurricane Dorian makes its way up the eastern seaboard, it looks to slide North, and cut through the north east coast. The storm has made landfall in the Carolinas but damage for produce growing regions has yet to be determined.
Unfortunately, our friends in the BAHAMAS, specifically GRAND BAHAMA and the ABACO ISLANDS, saw the worst of this catastrophic storm. Please keep them in your thoughts and if you are looking to help, please keep in touch with us and we will update you as new information becomes available.
PLANTAINS are TIGHT! Supplies out of GUATEMALA have been limited and are barely keeping up with demand. Typically, ECUADOR provides a steady supply to partner with Guatemalan varieties, however, Ecuadorian plantains are dealing with a bacterium that is killing crops. As of now, it looks like we will be dealing with SHORT SUPPLY on PLANTAINS until Ecuadorian growers get into new fields. On the other hand, if the Ecuador supply doesn't pick up, we are looking at higher market levels for at least a month, possibly more.
LIMES have grown tighter and tighter each week and we are now in a severe demand exceeds situation. Dry conditions in growing regions have decimated harvests and put packers extremely behind schedule. As of now, it doesn't look like the weather in MEXICO will improve enough to save supplies. We may be looking at an ELEVATED LIME MARKET for the remainder of 2019.
A recent DEMAND PUSH on CANTALOUPES for the Labor Day holiday has set growers back a bit. All signs point to shippers struggling for a week or so, and supplies catching back up after that. This should be a small hike in pricing for this week, possibly next, and prices should come back down soon after.
STRAWBERRIES remain in short supply and decent condition. There are seasonal factors that lead to decreased shelf life as well as bruising in fruit. When the fruit is later season and the weather is warm, there are going to be issues on strawberries. We continue to buy EXPORT PICK strawberries and ship them out no more than two days after arrival. There will be some issues here and there, so please be patient with the fruit and know that we are doing all that we can to get the freshest possible lots to you.
Smaller points -
SMALL POTATOES are coming back down in price. GOLD and FUJI APPLES are gapping. AVOCADOS are looking to get tight in the next few weeks. STONE FRUIT season is coming to an end. EASTERN VEG is starting its transition south. WATERMELON are getting tight.
More as it happens,
Parker Tannehill