Limoneira Co reported lemon pricing above $20 per carton and fresh utilization exceeding 80%, the highest in years. The company expects a stronger second-half performance driven by improved citrus fundamentals and higher volumes. These indicators point to favorable market conditions for citrus.
In Asian countries, the price of citrus products surged in the first and second quarters of 2023, primarily due to reduced rates of production owing to the poor weather conditions in the region. Unseasonal rains in the region damaged the citrus crops and thus led to the limited availability of the products in the region. This low availability further affected the rates of exports, causing the trading sentiments to decline in Asia-Pacific.
The demand for citrus and its derived products, however, increased during the first two quarters as the temperatures soared, increasing the number of inquiries, but due to decreased inflow, the prices increased significantly.
In the US markets, citrus greening disease infected several trees, and due to no cure for this, the citrus products in the US markets also faced severe shortage, raising the cost of citrus products by almost 76% and thus contributing to the inclining price trend of citrus.
Analyst Insight
According to Procurement Resource, the price of Citrus is expected to showcase a fluctuating trajectory as the extreme weather conditions and insect-infected crops have reduced the availability of citrus and its derived products in the market, negatively impacting its price trend.
Procurement Resource provides latest prices of Citrus. 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.
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Citrus is a wide genus of flowering plants that belongs to the Rutaceae family. This genus has evergreen trees, shrubs, and citrus fruits. The popular members of this genus are oranges, lemons, and grapefruits, each utilized for their distinct flavors and culinary versatility. These fruits are rich in vitamin C and are majorly cultivated in the tropical and subtropical regions.
Flavor and fragrance industries, Biodegradable plastics, Animal Feed, Citrus Pectin, Biofuel Production
Nestle SA, Coca Cola Co, PEPSICO INC
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
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