Europe Trend Week 08 – FRUITROP

Despite shortfall tending to fade, tension on the European market persisting.

Despite disruptions still being reported (shipping delays), the overall supply to the European market is regaining a better balance. However, despite the big Ivorian increase which has offset the small Cameroonian volumes, the combined Africa/French West Indies supply remains in shortfall (11% below average) because of the FWI shortage. Furthermore, incoming volumes from Colombia are increasing, though still below average for the season (-5%).
However, incoming Ecuadorian shipments have remained above average (+9%) as in the last two weeks, since the source is still focused on the EU and Russia to the detriment of the USA (strong competition from other origins).
In addition, incoming Costa Rican shipments, which since early February have registered above-average levels, seem to be continuing to rise. However, sales have remained highly fluid across all the markets because of a particularly favourable context (attractiveness of retail prices, absence of competing fruits, temperatures still cool). Hence spot market prices have stabilised at high levels.
Finally, in Spain, although still below average, prices have started to strengthen because of a fall in supply and still very lively demand. In Russia, the market remains under tension, driving prices continuously upward.