"Some pressure is returning to the mango market," says Starfruit's Ive Lambert. "At the end of March, volumes dropped significantly due to the transition period between the Peruvian and Ivory Coast seasons. But this week, a large number of Peruvian mangoes arrived due to delayed shipments, coinciding with the arrival of mangoes from Ivory Coast."
As a result, the trader explains, the market is seeing a substantial influx of mangoes. "We're seeing an overlap this year. In most other years, there's usually a clear gap between the Peru and Ivory Coast seasons. That overlap has caused prices to drop quite significantly on some days. Demand remains good thanks to the sunny weather, but that's not the issue. These days, the market is so sensitive that just a few extra boxes can drive the price down, while a slight shortage can send it right back up. We're seeing this kind of volatility with many products, which leads to wild price swings where you start wondering, 'Who's still willing to pay that much?'"
Looking ahead to the coming weeks, I expect a shift in weather conditions. "We're now seeing the last arrivals from Peru. Only airfreighted Peruvian mangoes will continue for a little longer, but after that, we'll fully transition to Ivory Coast. They're having a normal season, not excessively large. So the higher volumes we're seeing now appear to be temporary. I think they'll struggle to sustain production for more than five weeks. And if it starts raining there, the season could end abruptly."
"The next question is whether we'll have Senegalese mangoes following the Ivory Coast. That's going to be tight, but I expect they'll just fall short. That transition period may still bring some lower volumes, but in a way, we hope so, because it would allow the market to absorb the supply and possibly push prices back up. Overall, the Senegalese harvest is looking good this year, unlike last year's disastrous season, so the market is expected to remain somewhat more stable in the coming weeks."
For more information:
Ive Lambert
Starfruit
Werkhuizenkaai 112
Brussels - Belgium
Tel: +32 (0)2242 0876
[email protected]
www.groupadw.be/starfruit
