According to EastFruit analysts, the price collapse in the peach market continues, affecting producers in the southern countries of Europe and the Middle East, which traditionally earn significant export revenues from these fruits.
In particular, according to Fedir Rybalko, international exporter in fruit and vegetable trade and logistics, a further rapid decline in peach prices in Turkey has already ousted its main competitor from the market. Egypt simply cannot afford to export fresh peaches at such a low price, as logistics from this country are more expensive.
"In Turkey, export prices for nectarines fell to $0.85 US dollars FCA, and for peaches – to $0.75 US dollars FCA. Thus, the wholesale price for peach in Turkey is already lower than the wholesale price for apple and this is as of May 1, which is an absolutely unprecedented case," says Fedir Rybalko.
Let us remind you that a week earlier, wholesale prices for peach in Turkey fell to $1.6 US dollars per kg. Thus, in just a week, prices for peach and nectarine fell by more than half.
"Low peach prices are of serious concern to growers in Uzbekistan and Georgia. Peaches and nectarines are one of the most important export crops for these two countries. They compete on the foreign market with peaches from Turkey in June-August. However, it should be noted that in the current season, fresh peach exports from Turkey began much earlier than usual, which could lead to a shortening of the Turkish peach and nectarine export season, especially considering the price trends," says Andriy Yarmak, economist at the investment department of the UN Food and Agriculture Organization (FAO).
According to market participants, both Georgia and Uzbekistan expect an ample production of peaches in 2024, which could worsen the price situation even more. Also, the situation on the market of peaches and nectarines may have some indirect negative impact on the demand and prices of other fruits.
Source: east-fruit.com