Asparagus Market Volatility – 12.15.23

Challenges in our industry often arise unexpectedly, and currently, the asparagus market is navigating through a particularly tight supply situation. Both Peru and Mexico, crucial players in the global asparagus supply chain, are grappling with issues that are impacting tonnage and causing significant market volatility.

 

As we delve into the specifics, Mexican production has experienced a notable slowdown due to cooler weather. The combination of this and heightened demand during the holiday season has created a volatile market scenario. In Peru, production has been consistently low throughout the season, exacerbated by the lingering effects of El Niño and the natural ebb and flow of seasonality. As fields in Peru transition from south to north, the already limited supplies are expected to face further constraints in the coming weeks.

 

The outlook for the asparagus market is marked by volatility for the next 3-4 weeks. Unfavorable weather conditions forecasted for Peru suggest that supplies will remain below normal levels through December. It’s anticipated that Peruvian supplies will see improvement in about three weeks as the northern fields come into full swing. However, all sizes, especially XL’s and Jumbo’s, will be exceptionally limited during this period.

In the immediate future, the expectation is that the supply will be about 30-40% less than the last three to four weeks. This shortage is anticipated to persist for the next 3-4 weeks, creating a challenging environment for distributors and consumers alike.

 

Looking ahead, the asparagus market should experience a boost in mid to late January as Caborca gears up, promising more stable and improved supplies just in time for Valentine’s Day.

 

As the asparagus market navigates through these supply challenges, adaptability becomes key. Stay informed about market fluctuations, adjust your strategies accordingly, and keep a close eye on the evolving landscape of the asparagus industry. Seashore Fruit & Produce Co. in partnership with PRO*ACT will continue to keep you updated on this market and source the freshest product available to us.

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