There is a lot of uncertainty in the Indian market for citrus, as importers are holding their stocks to benefit from higher prices later on, says Amit Sharma, owner of fruit trader Fresko Fruits: "The availability of Egyptian citrus in the Indian market is sufficient at the moment. However, the prices are currently fluctuating significantly on a daily basis. The war is having a major impact on this trade. Many big players are holding back their stocks and are closely watching market demand, because imports are decreasing daily. As a result, prices are increasing sharply."
© Fresko Fruits
As supply decreases by the day, it's only natural that prices are going up. Sharma does emphasize it's not all profit, as shipping lines are also responding to the new developments in the Middle East. "I'm surprised to see prices increasing on a daily basis. Shipping lines have increased their freight rates starting from March 3rd, which has raised the overall cost of operating significantly. Many importers are trying to take advantage of the situation by holding their stocks, because the reality is that nobody knows whether new vessels will arrive at Indian ports on schedule."
© Fresko Fruits
Although there are some alternatives to Egyptian citrus, the lion's share of the imports do come from there: "We do have some domestic crop available, but the quantity in India is very limited. Currently, Egypt is the main source for citrus. A small quantity of mandarins is also coming from China, but not in significant volumes. If Egyptian citrus loading continues and vessels arrive on time, the market should stabilize. Currently, prices are around 14–16 euros per box, and they continue to increase gradually," Sharma concludes.
For more information:
Amit Sharma
Fresko Fruits
Tel: +91 98 91 96 36 33
Email: [email protected]
https://www.freskofruits.com/
