Market Update August 04, 2023

Good afternoon,

GRAPES continue to transition over to California as we near peak season! RED and GREEN SEEDLESS are in great quality and supply out of California as the increased availability has pushed pricing lower.

Our ASPARAGUS troubles reamin as supply shortages out of PERU and MEXICO continue. High levels of heat and a lack of rain reduced supplies and brought on quality issues for the end of the Central Mexico season. Mexican ASPARAGUS is still in a supply gap but hopefully supplies out of Peru help ease this market before we see relief in Mexico sometime in the early fall.

STRAWBERRIES have had a great run the last few months but the market is now overripe! Central and Southern California supplies are mostly finished, so demand has moved up north to growing areas like Watsonville and Aromas, CA. As we stick to EXPORT QUALITY berries, we have been buying up north for well over a month, but the market has now caught on and supplies are in a demand exceeds situation. Prices are going to be much higher next week on STRAWBERRIES and we expect that to continue through this month.

BRUSSELS SPROUTS have been tight for several weeks now and it seems that we have another few weeks of scarcity ahead. Supplies are limited out of Mexico and even more so out of California. We are still another week or two away from any significant supply of sprouts to come out of Salinas, California. Pricing and availability will remain high and tight, respectively, until we see new crop Salinas BRUSSELS SPROUTS get going in a significant way.

Last week, the LETTUCE market took a tight turn due to increased demand and limited supplies. As market pricing increased, popular substitutes like GREEN and RED LEAF also got a bump over the weekend. Back to school demand has started to play a role in this market but it seems as if some shippers still have decent availability. ROMAINE has romained on the sidelines as supplies remain plentiful and prices affordable. Even CANADIAN lettuce and leaf is seeing trouble this year due to poor growing conditions, so there goes the backup plan!

CHERRIES are all but finished for the season. There are a few more options that will have availability for another week or two but quality is going downhill and that fruit is better left domestically.

PLUMS, PEACHES, and NECTARINES are in good supply and we have even seen some pricing relief on PLUMS in the recent weeks. Stone fruit summer here we go!

More as it happens,

Parker Tannehill