The new season has led to an abundant supply of Individually Quick Frozen (IQF) fruits and vegetables from Egypt. Market participants report high stock levels and increased availability among IQF manufacturers, resulting in a price decrease across the market.
As of January 31, the Expana Benchmark Price (EBP) for uncalibrated IQF green beans is $570/mt FOB Egypt, marking a 20% month-on-month decline. The EBP for uncalibrated broccoli has decreased 32% m-o-m to $600/mt, while uncalibrated cauliflower is priced at $550/mt, down 34% m-o-m.
In the Egyptian strawberry sector, buyers are receiving offers, but market activity is slow as many anticipate further price reductions. The EBP for Egyptian FOB uncalibrated strawberries is currently $1150/mt, showing an 8% m-o-m decline.
Source: Mintec/Expana