Besides disrupting sea supply chains, rains from the storm could affect the supply of commodities grown in Mexico and Guatemala. Fortunately for growers on the Gulf side of the US, the heat dome will likely keep the hurricane from veering right towards the US mainland.
High-value commodities spike and fuel intense rise in index prices. Fourth of July holiday demand, rain in Mexico, and extreme heat throughout much of the US are tightening the supply of commodities such as strawberries, blueberries, limes, and tomatoes.
Blue Book has teamed with ProduceIQ BB #:368175 to bring the ProduceIQ Index to its readers. The index provides a produce industry price benchmark using 40 top commodities to provide data for decision making.
ProduceIQ Index: $1.41/pound, up +11.9 percent over prior week
(Week #26, ending June 28th)
In response to intense holiday demand and declining production in Santa Maria, California, strawberry prices are up +41 percent over the previous week to a ten-year high. Prices will likely stay strong through Independence Day, then moderate as demand weakens.
Strawberry prices, $15, breakout to a new high during a seasonally cheap time of year
Averaging $20, blueberry prices are near normal for week #26. However, higher-than-average temperatures throughout growing regions on the East and West Coast of the US may continue to fuel rises in the price of blueberries even after holiday demand subsides.
In two weeks, the Pacific Northwest will begin blueberry production and hopefully relieve escalating markets.
Lime production is again in the line of fire as Hurricane Beryl bears down on the Caribbean. Last week, rain from Tropical Storm Alberto delayed harvesting in Mexico and reduced supply. As a result, average prices are up +18 percent over the previous week, a ten-year high. In the long term, the much-needed rain will improve the quality and volume of the Mexican lime crop.
Limes, $24, barely surpass 2023 prices to reach record highs during the low-cost summer season
Transition energizes tomato markets from coast to coast. As a category, average prices are up +25 percent over the previous week, with the most significant increases in the grape-type category. Prices will likely continue to escalate through the beginning of July as growers in the US and Mexico wrestle with heat and rain to stabilize supply.
Please visit our website to discover how our online tools can save time and expand your reach.
ProduceIQ is an online toolset designed to improve the produce trading process for buyers and suppliers. We save you time, expand your opportunities, and provide valuable information to increase your profits.
ProduceIQ Index
The ProduceIQ Index is the fresh produce industry’s only shipping point price index. It represents the industry-wide price per pound at the location of packing for domestic produce and at the port of U.S. entry for imported produce.
ProduceIQ uses 40 top commodities to represent the industry. The Index weights each commodity dynamically, by season, as a function of the weekly 5-year rolling average Sales. Sales are calculated using the USDA’s Agricultural Marketing Service for movement and price data. The Index serves as a fair benchmark for industry price performance.
