MARKET UPDATE JANUARY 20TH 2023

Good morning,

More of the same trends continue this week as the major rain events on the west coast begin to clear up. LETTUCE and LEAFY GREEN markets continue to soften due to increased supplies out of Arizona.

CELERY supplies are also improving thanks to lower demand and some more sunshine on the west coast. Florida supplies are still a major help for overall demand, but it looks like CELERY supplies out of OXNARD and YUMA are improving weekly.

We are nearing the SUPER BOWL pull for AVOCADOS! Each year, we see demand skyrocket for one of our favorite green fruits as consumers in the US grab their chips, salsa, and of course, AVOCADOS for some homemade guacamole! Although it seems like this change in demand may be minimal, last year, nearly 100 million viewers sat in to watch the Superbowl and many of them made some homemade guac! In 2020, imports of AVOCADOS for the super bowl week exceeded 127 thousand metric tons of fruit from Michoacan Mexico alone. This year, supplies seem to be in good shape leading up to the big game in early February.

LIMES will also be in high demand for the weeks ahead and it looks like supplies are catching up just in time. Favorable weather has brought on healthy early crops and some good news for export, sizing of the fruit is peaking at around 175-200ct.

PINEAPPLE supplies have been flush for several months now thanks to strong imports out of Central America. Over the last few weeks, we have seen this trend reverse as sizing is coming in very large, limiting the availability of small fruit. Packs like 8ct and 14ct will be tight for at least the next few weeks.

We mentioned the shortage of ASPARAGUS on the west coast last week and how that might impact availability here on the east coast. Well, things turned out just how we thought, and we also are now seeing the Peruvian political climate heat up, limiting the amount of asparagus exports. We expect some relief out of Mexico in the weeks ahead but don't be surprised to see grass prices on the rise!

More as it happens,

Parker Tannehill