MARKET UPDATE 12.22.24

Good afternoon,

As the year comes to a close, we want to express our heartfelt gratitude for your partnership and trust in Global Perishable Services. It's been a pleasure providing you with high-quality produce and service throughout the year. We hope this holiday season brings you joy and moments of celebration with loved ones. May the New Year be filled with prosperity and success for you and your business.

The Florida Swing is beginning to jive with CABBAGE, STRAWBERRIES, SQUASH, PEPPERS, CITRUS, TROPICALS, LETTUCE, ROMAINE, EGGPLANT, and even a few long awaited TOMATOES starting up. The luxury of having product close to home can not be understated; shorter transit times lead to better shelf life and lower transportation costs, decreased procurement lead time, and options are abound.

As the effects from the loss of TOMATO acreage this Hurricane Season persist, we are beginning to see improvements. GRAPE and CHERRY TOMATO supplies have picked up out of Florida, resulting in lower market pricing. ROMA markets have held together, partial thanks to better supplies out of Mexico, but the ROUND market has not been so lucky. As we see most varietals rebound, ROUND TOMATOES will be the last to recover but we do expect to see that change come soon!

As CAULIFLOWER supplies continue to lag, we are seeing BROCCOLI supplies improve. These two goods typically move in sync, one a few weeks behind the other. We have already made our way through the shortage of BROCCOLI so, if history is any indicator, improved availability and pricing of CAULIFLOWER should not be too far behind. Reports still indicate light volumes to remain next week but warmer weather and slowing Holiday demand should help turn things around.

LETTUCE and ROMAINE markets have returned to stable pricing. Steady to lighter demand and healthy supplies are to thank for keeping these markets in check. Moving forward, forecasts indicate favorable weather so we should see this trend continue.

With all of the joy that comes from the Holiday Season, we must also deal with its challenges. Although we all enjoy a mid-week Wednesday with our families, logistically, it can create some issues. In order to navigate these challenges, we will be receiving, picking, and loading non-stop from now until Christmas eve. We can use all of the help we can get by getting orders in early and keeping changes down to a minimum. Consider it your Christmahanakwanzika gift to us!

More as it happens,

Parker Tannehill