Lemon price crash due to panic in the market
"It wasn't as much a case of over supply as a certain panic in the market as there was still Argentinian lemons going around and the Turkish and Spanish fruit was starting to arrive," explains a trader.
"Spanish and Turkish lemons are now selling at around £8.50, it is difficult to say how the price will pan out. We are glad we don't have any lemons just now, although we heard that one Dutch importer had bought a load at a very high price and is having to sell them for much less."
Pineapples are also suffering just now. The trader is not surprised that one discounter has been offering them for 0.50p each. That does not even begin to cover the cost price of a pineapple never mind the transport cost and is not good for the trade in general, he said.
The pound has been dropping day by day since Prime Minister Theresa May announced she would start the Brexit discussions with Europe before the end of May next year. Today it stands at 1.12 against the Euro and 1.22 against the Dollar.
This of course makes trading very risky and is certainly going to lead to an increase in food prices in the UK.