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U.S. Orange Juice Prices Skyrocket on Low Output in Florida

orange juice

U.S. Orange Juice Prices Skyrocket on Low Output in Florida

IndexBox has just published a new report: ‘World – Unconcentrated Orange Juice – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.

Instigated by low production in Florida, the monthly average retail price for 16 oz of orange juice concentrate in the U.S. peaked at $2.65 in December 2021. Although U.S. orange juice output is expected to drop, global production is forecast to rise by 11% to over 1.9M tonnes in 2022 due to high output in Brazil.

Orange juice prices skyrocketed in the U.S. on decreased production in Florida. The monthly average retail price for 16 oz of orange juice concentrate in the U.S. peaked at $2.65 in December 2021, rising by 14% from the figure of December 2020.

According to IndexBox estimated based on USDA data, U.S. orange juice production is forecast to drop by 6.5% y/y to 215K tonnes in 2022 owing to reduced output in Florida, where plantations were affected by citrus greening. U.S. ending stocks are projected to remain stable at the level of 246K tonnes this year.

Global production is expected to grow by 11% y/y to 1.9M tonnes thanks to increasing outputs in Brazil and Mexico, offsetting U.S. and EU production declines. World’s consumption is set to match production but continue its long’term downward trend.

Brazil’s orange juice production is projected to rise by 16% y/y to 1.1M tonnes in 2022. Mexico is forecast to produce 170K tonnes, 25% more than a year earlier.

EU orange juice production is set to fall by 10% y/y to 70K tonnes on reduced volumes of fruits available for processing. To compensate for the losses, the EU is projected to ramp up imports, primarily from Brazil.

Global Orange Juice Imports by Country

In 2020, global orange juice imports soared to 2.9M tonnes, jumping by 16% compared with 2019 figures. In value terms, orange juice supplies expanded rapidly to $2.1B (IndexBox estimates).

The countries with the highest levels of orange juice (single strength) imports in 2020 were Belgium (626K tonnes), France (498K tonnes) and the Netherlands (459K tonnes), together comprising 54% of the total imports. Germany (306K tonnes) ranks next with a 10% share, followed by the UK (9.4%), the U.S. (7.9%) and Canada (4.5%).

In value terms, France ($376M), Belgium ($284M) and the Netherlands ($241M) were the most significant orange juice (single strength) importing markets worldwide, with a combined 44% share of global imports.

In 2020, Belgium recorded the highest growth rates of imports, expanding purchases fourfold, while supplies into other countries experienced more modest paces of growth.

In 2020, the average orange juice (single strength) import price amounted to $704 per tonne, shrinking by -7.9% against the previous year. There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Canada, while Belgium was amongst the lowest.

Source: IndexBox Platform

dates

European Imports of Dates Surge over $430M

IndexBox has just published a new report: ‘EU – Dates – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

European date imports jumped from 137K tonnes in 2019 to 157K tonnes in 2020. In value terms, imports soared to $437M. France, Germany, the Netherlands, Italy, Spain and Belgium constitute the largest date importers in the EU, with a combined 82%-share of the European imports. Last year, the Netherlands featured the most rapid growth rate regarding the import volume in physical terms. In 2020, the date import price in the EU remained relatively unchanged compared to the figures of 2019.

Imports of Dates in the EU by Country

In 2020, approx. 157K tonnes of dates were imported in the EU; growing by +14% compared with 2019 figures. In value terms, date imports skyrocketed by +15.7% y-o-y to $437M (IndexBox estimates) in 2020.

In 2020, France (50K tonnes), distantly followed by Germany (29K tonnes), the Netherlands (17K tonnes), Italy (12K tonnes), Spain (12K tonnes) and Belgium (8K tonnes) represented the main importers of dates, together creating 82% of total imports. Denmark (5K tonnes) occupied a little share of total imports.

In 2020, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest date importing markets in the EU were France ($115M), Germany ($81M) and the Netherlands ($66M), with a combined 60% share of total imports.

In 2020, the date import price in the EU amounted to $2,791 per tonne, remaining constant against the previous year. In 2020, it increased by +1.3% y-o-y. Prices varied noticeably by the country of destination; the country with the highest price was the Netherlands ($3,796 per tonne), while France ($2,275 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Italy, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

plum

Global Plum And Sloe Market Reached $15.7B in 2018

IndexBox has just published a new report: ‘World – Plums And Sloes – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global plum and sloe market revenue amounted to $15.7B in 2018, going up by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

The market value increased at an average annual rate of +4.7% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 with an increase of 13% y-o-y. Global plum and sloe consumption peaked in 2018 and is expected to retain its growth in the near future.

Consumption By Country

China (7.1M tonnes) constituted the country with the largest volume of plum and sloe consumption, accounting for 59% of total consumption. Moreover, plum and sloe consumption in China exceeded the figures recorded by the world’s second largest consumer, Romania (453K tonnes), more than tenfold. The U.S. (420K tonnes) ranked third in terms of total consumption with a 3.5% share.

In China, plum and sloe consumption expanded at an average annual rate of +3.6% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Romania (+1.8% per year) and the U.S. (+1.7% per year).

In value terms, China ($10B) led the market, alone. The second position in the ranking was occupied by the U.S. ($757M). It was followed by Iran.

The countries with the highest levels of plum and sloe per capita consumption in 2018 were Serbia (33 kg per person), Romania (23 kg per person) and Morocco (5,363 kg per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of plum and sloe per capita consumption, amongst the main consuming countries, was attained by Morocco, while the other global leaders experienced more modest paces of growth.

Market Forecast 2019-2025

Driven by increasing demand for plum and sloe worldwide, the market is expected to continue an upward consumption trend over the next seven year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.8% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 14M tonnes by the end of 2025.

Production 2007-2018

Global plum and sloe production amounted to 12M tonnes in 2018, going up by 2.9% against the previous year. The total output volume increased at an average annual rate of +2.3% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations over the period under review. The growth pace was the most rapid in 2009 when production volume increased by 6.3% y-o-y. Global plum and sloe production peaked in 2018 and is expected to retain its growth in the near future. The general positive trend in terms of plum and sloe output was largely conditioned by a measured expansion of the harvested area and a slight increase in yield figures.

In value terms, plum and sloe production totaled $16.3B in 2018 estimated in export prices. In general, the total output indicated a strong expansion from 2007 to 2018: its value increased at an average annual rate of +2.3% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the plum and sloe production increased by +25.6% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 16% year-to-year. In that year, global plum and sloe production reached its peak level and is likely to continue its growth in the immediate term.

Production By Country

China (7M tonnes) constituted the country with the largest volume of plum and sloe production, comprising approx. 58% of total production. Moreover, plum and sloe production in China exceeded the figures recorded by the world’s second largest producer, Romania (441K tonnes), more than tenfold. The U.S. (430K tonnes) ranked third in terms of total production with a 3.5% share.

From 2007 to 2018, the average annual rate of growth in terms of volume in China stood at +3.5%. In the other countries, the average annual rates were as follows: Romania (+1.5% per year) and the U.S. (+1.6% per year).

Harvested Area 2007-2018

In 2018, approx. 2.7M ha of plums and sloes were harvested worldwide; increasing by 1.6% against the previous year. The harvested area increased at an average annual rate of +1.2% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 4.8% year-to-year. In that year, the global plum and sloe harvested area reached its peak figure of 2.7M ha. From 2014 to 2018, the growth of the global plum and sloe harvested area remained at a somewhat lower figure.

Yield 2007-2018

Global average plum and sloe yield totaled 4.6 tonne per ha in 2018, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +1.1% from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2009 when Yield increased by 4.8% year-to-year. Over the period under review, the average plum and sloe yield attained its maximum level in 2018 and is expected to retain its growth in the near future.

Exports 2007-2018

In 2018, the global exports of plums and sloes stood at 615K tonnes, leveling off at the previous year. The total export volume increased at an average annual rate of +1.2% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2011 when exports increased by 12% against the previous year. Over the period under review, global plum and sloe exports attained their maximum at 689K tonnes in 2013; however, from 2014 to 2018, exports stood at a somewhat lower figure.

In value terms, plum and sloe exports totaled $776M in 2018. The total export value increased at an average annual rate of +1.9% from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of 16% against the previous year. Over the period under review, global plum and sloe exports reached their peak figure at $838M in 2013; however, from 2014 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, Chile (121K tonnes), distantly followed by Spain (73K tonnes), South Africa (58K tonnes), Moldova (53K tonnes), Italy (45K tonnes), China, Hong Kong SAR (43K tonnes), the U.S. (33K tonnes) and Uzbekistan (28K tonnes) represented the largest exporters of plums and sloes, together making up 74% of total exports. Serbia (16K tonnes), Turkey (14K tonnes), France (13K tonnes) and the Netherlands (11K tonnes) occupied a minor share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Moldova, while the other global leaders experienced more modest paces of growth.

In value terms, Chile ($174M), Spain ($113M) and South Africa ($78M) appeared to be the countries with the highest levels of exports in 2018, with a combined 47% share of global exports. These countries were followed by China, Hong Kong SAR, the U.S., Italy, Moldova, the Netherlands, Uzbekistan, France, Turkey and Serbia, which together accounted for a further 39%.

Moldova experienced the highest rates of growth with regard to exports, among the main exporting countries over the last eleven year period, while the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average plum and sloe export price amounted to $1,262 per tonne, surging by 3.7% against the previous year. In general, the plum and sloe export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of 11% against the previous year. Over the period under review, the average export prices for plums and sloes attained their maximum at $1,317 per tonne in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($1,862 per tonne), while Moldova ($528 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, approx. 575K tonnes of plums and sloes were imported worldwide; dropping by -6.6% against the previous year. The total import volume increased at an average annual rate of +1.1% from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 12% y-o-y. Over the period under review, global plum and sloe imports reached their peak figure at 659K tonnes in 2013; however, from 2014 to 2018, imports remained at a lower figure.

In value terms, plum and sloe imports totaled $721M in 2018. The total import value increased at an average annual rate of +1.0% over the period from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 when Imports increased by 16% y-o-y. Over the period under review, global plum and sloe imports attained their maximum at $849M in 2013; however, from 2014 to 2018, imports remained at a lower figure.

Imports by Country

China (93K tonnes) and Russia (77K tonnes) represented roughly 30% of total imports of plums and sloes in 2018. It was distantly followed by the Netherlands (38K tonnes), Germany (32K tonnes) and the UK (30K tonnes), together committing a 17% share of total imports. The U.S. (23K tonnes), Kazakhstan (19K tonnes), Brazil (16K tonnes), Canada (15K tonnes), China, Hong Kong SAR (13K tonnes), Egypt (13K tonnes) and Saudi Arabia (12K tonnes) occupied a relatively small share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Kazakhstan (+59.5% per year), while the other global leaders experienced more modest paces of growth.

In value terms, China ($155M) constitutes the largest market for imported plums and sloes worldwide, comprising 21% of global imports. The second position in the ranking was occupied by Russia ($56M), with a 7.8% share of global imports. It was followed by the Netherlands, with a 7% share.

In China, plum and sloe imports increased at an average annual rate of +24.0% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Russia (+3.9% per year) and the Netherlands (-3.2% per year).

Import Prices by Country

In 2018, the average plum and sloe import price amounted to $1,255 per tonne, standing approx. at the previous year. Over the period under review, the plum and sloe import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 when the average import price increased by 3.5% year-to-year. Over the period under review, the average import prices for plums and sloes reached their maximum at $1,328 per tonne in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Canada ($1,901 per tonne), while Kazakhstan ($722 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Canada, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform