Lettuce Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Lettuce in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Lettuce Price Trend for the Second Half of 2023

Extreme weather, including snow, torrential rains, and floods, has altered the agricultural production patterns in the U.S., particularly impacting lettuce crops. California, a major producer of lettuce and other fruits and vegetables, has suffered delayed planting and crop losses due to adverse weather conditions.

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The rising occasions of flooding in central California, notably in Watsonville and Salinas, the key lettuce-growing regions, submerged fields, and hindered planting patterns in the last two quarters of 2023, exerting excessive pressure on the global inventories.

The Salinas Valley, a key lettuce growing area, also faced significant challenges, with over 60% of lettuce production affected by floods. The flooding not only delayed planting but also raised concerns about soil contamination, further disrupting supply chains. The Monterey County agricultural commissioner's office estimated substantial losses, with romaine lettuce among the hardest-hit crops. The consumers also experienced smaller selections, reduced supplies, and higher prices at grocery stores, with local farmers markets witnessing a surge in prices for organic lettuce.

The rise in the prices was not only limited to the North American region but in several other economies. The ill consequences of El Nino were evident in the Asian countries, too, as the consumer sector there also suffered from the same concerns experienced by the U.S. markets.

Analyst Insight

According to Procurement Resource, the price of Lettuce is estimated to incline gradually in the upcoming quarters as the downstream demand is increasing but the reduction in agricultural production is widening the gap between supply and demand sectors.

Lettuce Price Trend for the First Half of 2023

In H1’2023, the price trend of lettuce inclined globally and maintained its pace throughout the first and second quarters of 2023 due to the limited supply of food products, which were, in turn, affected by the extreme weather conditions.

In North America, severe rains and storms in the first two quarters of 2023 delayed the planting season and thus contributed to the crop damage observed in the region, causing the stocks of lettuce to decline. Along with the rains, below-average temperatures also remained a cause of concern for the farming sector. Due to the limited supply, the market of lettuce swiftly moved towards a demand excess and supply restrained condition not only in the US but also in Asian countries.

In addition to this, the inflation in food product prices was also caused by high pressure on the global economy, aftereffects of the pandemic, supply chain disruptions caused by the Russia-Ukraine war, labor strikes, and consistently rising consumer demand. Additionally, the gradually rising interest rates charged by banks to keep the economy afloat further led to the rise in the prices of lettuce.

Analyst Insight

According to Procurement Resource, the price of Lettuce is expected to showcase an inclining trajectory as the demand of consumers seems to be inclining, but the rates of production are adversely affected by extreme weather conditions.

Procurement Resource provides latest prices of Lettuce. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.