Stone Fruits Market Digest w21

Weekly Stone Fruits Market Updates

Main Price Movements in the EU

Germany is a significant importer of Mediterranean stone fruits in the EU, with its wholesale market serving as a vital source of pricing data. Similarly, Rungis' wholesale market in France plays a pivotal role in the fresh fruit and vegetable trade. Our insights into the stone fruit market are informed by our industry experts and supplemented with data from the German Federal Ministry of Food and Agriculture and the French Market News Network.

As we move towards summer, the high temperatures create a perfect environment for demand to rise regarding stone fruits. On the Wikifarmer marketplace, we are already experiencing an uprising of offers regarding stone fruits from Spain and Greece. In the Central European market, Greek apricots and cherries have a strong presence, with the latter being slightly softer than their Spanish counterparts and thus offered at discounted prices. Spanish apricots are facing new competition from Italian and French varieties, while the availability of nectarines and peaches from Spain and Italy is also increasing. The European stone fruit season is gaining momentum, with Spanish and Greek cherries and apricots becoming more prevalent and smaller quantities of peaches and nectarines arriving from Turkey and Italy. There is a strong demand for summer fruits, particularly apricots from Italy, Spain, and France. However, peaches and nectarines have difficulty attracting buyers in several markets due to their limited availability.

The supply of stone fruits continues to grow, with various origins entering the market. This increased volume leads to a steady price decrease across all categories, as observed in Rungis Market data. French cherries, nearly twice the price of their Spanish counterparts at €14.25/Kg, have an optimistic outlook for this year's campaign. According to Agreste, French cherry production is estimated at 37,700 tonnes, reflecting a 12% increase from 2023 and a 23% rise over the five-year average (2019-2023). This growth spans all production areas but is contingent on favorable climate conditions and the absence of plant diseases. In 2023, 36% of French cherries came from Provence-Alpes-Côte d'Azur, 28% from Auvergne/Rhône-Alpes, and 17% from Occitania. Despite some reductions in cultivation areas, these regions are projected to increase production by 10% and 21%, respectively, weather permitting. Of the total production, 29,100 tonnes are destined for the fresh market, with 8,600 tonnes for industrial processing.

In Portugal, fruit production faces challenges from weather patterns, such as hail and low temperatures, which can affect the quality and volume of crops like apricots, particularly in northern regions. Despite this, southern areas like Alentejo show promising yields. Overall, the European apricot crop remains stable, with increased market segmentation between different varieties driving consumer interest. However, apricots are delicate and high-risk, prompting producers to diversify farming locations to mitigate risks. There is a need for higher prices and better retail practices to sustain apricot production and enhance consumer awareness, especially in northern Europe. 

Forecast for European peaches and nectarines Campaign 2024

Representatives from European production countries discussed the apricot harvest preview and the stone fruit campaign for peaches and nectarines at the medFEL trade fair in Perpignan, France. The overall outlook is positive, with minimal weather damage reported and production recovering across Spain, Italy, France, and Greece after a challenging 2023. Forecasts for 2024 indicate slight increases in peach and nectarine yields for all countries compared to 2023, reflecting a promising season.

Τhe climate played a favorable role this year, with cooler temperatures in April and May helping to stagger the harvest in Spain, preventing the market saturation seen last year due to simultaneous harvests from different regions. Production is considered normal across the board, and now the focus shifts to consumer demand. The industry's performance depends significantly on whether consumers buy peaches and nectarines, highlighting the market's dependence on consumer preferences.

Packaging remains a critical issue, especially with France's recent law on plastic packaging being under review. This has led to uncertainty among producers, who are cautious about investing in packaging materials once the law is clarified. Plastic remains the cheapest packaging solution, particularly for entry-level price categories, and the decision expected in June, potentially influenced by the European elections, will be crucial for producers' future planning.