Pineapple market report 16.01.24

In early December, the overall industrial supply for the entire canning industry increased to 3,500 metric tons per day, enhancing the availability of resources. Despite this improvement, the price has sustained its relatively high level, reaching $0.31 per kilogram.

A notable shift has been observed in the composition of incoming raw materials, with a higher percentage of unripe pineapples due to early harvesting. This trend may lead to a decreased supply for the upcoming summer crop scheduled for March. Anticipated larger pineapple plantations for the summer, however, are expected to yield a lower percentage recovery. This is attributed to reduced and brief rainfall in Q3/2023 and limited water carry-over in mouse dams during Q1-Q2/2024.

The prevailing expectation among most packers is for the crop size to be similar to the current winter harvest, extending into the upcoming summer crop from March to June 2024. It is worth noting that the overall crop size is not expected to be as substantial, given the crop typically accounts for 60% of the total annual supply.