Prunes Market Update 20.06.24

Chile has seen strong sales of prunes to date, with 73% of the current stock already sold. Notably, China has been increasing its imports of Chilean prunes, with a substantial rise from 18,000 metric tons (MT) in 2023 to an estimated 25,000 MT in 2024. This increase is significant, given that the total production is around 60,000 MT. The market for Chilean prunes is highly active, driven by a reduced supply this year due to several climatic factors. The previous winter saw a lack of chilling hours, followed by a cold spring and a hot summer, which collectively impacted prune yields. Additionally, a record amount of fresh plums was exported to China in February, further reducing the availability of prunes. Consequently, the price of prunes is expected to rise in the coming months due to the combination of stronger demand from China and declining stock levels.

via South365