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Pricing strengthening on red mangoes from Peru in the coming weeks

The Peruvian red mango market is looking very different from this time last year. "Last year at this time, the supply was very tight with very high prices," says Luis F. Orrantia of Tropical Specialists. "This year it is the opposite."

This comes in a season with more mangoes from Peru than anticipated. Looking back in October, Ecuador first began shipping its red mangoes which it generally does for about three months. "Ecuador began very early this year with very good pricing," says Orrantia, noting generally after Thanksgiving, pricing tends to go down due to the amount of extra supply

Then, Peru's entry into the market in November also started early and there was still supply around from not only Ecuador but also Brazil. "It was a bad market for Peru from the beginning of the season, though recently the market went up a bit and is currently decent compared to the cost back at origin," says Orrantia. With both Ecuador and Brazil now not shipping any more fruit, the market has been increasingly receptive to the volume received from Peru. However, there is still a good amount of fruit expected for another two to three weeks.

"Last year at this time, the supply was very tight with very high prices," says Luis F. Orrantia of Tropical Specialists. "This year it is the opposite."

March finish?
Meanwhile, there are indications that Peru has had a large amount of "hidden" fruit available–much more than was initially announced. Orrantia is very optimistic that prices could sustain the current high with incoming volume. "However, prices are higher than what they were a week or two ago though I don't think they'll go too high because of the volume," says Orrantia, adding that by March, he anticipates fruit to be even tighter on fruit with prices to be strong.

All of this is also happening while the production of mangoes from Mexico is slower to start this season. "All of this is a bit uncertain," says Orrantia, mentioning that another issue adding to the uncertainty is the lack of reefer units available to ship fruit from Peru.

Looking ahead, Orrantia notes that if the speculation of Peruvian fruit is off, which it could be, prices aren't likely to change.

For more information:
Luis F. Orrantia
Tropical Specialists
Tel: +1 (305) 456-4997
info@tropicalspecialists.com
http://www.tropicalspecialists.com/