Tag: produceiq

For the first time in 84 years, a tropical storm has hit Southern California. Hurricane Hilary struck the coast of Mexico and then Southern California as a tropical storm yesterday.

The ProduceIQ Index for the industry is up for the 3rd week in a row, an event that has never happened during this time of year. $1.29 is a record high during a season known for falling prices.

While the back-to-school season is usually marked by rejoicing parents and low summer produce prices, extreme weather is forcing some unlikely commodities to pull average prices to a ten-year high.

While maybe not as sensational as the news that Taylor Swift caused a small earthquake in Seattle, gas prices are at an eight-month high. Keep calm. At $3.71, the average fuel price is still more than $1 below the astronomical highs we saw last July.

While the ProduceIQ Index is flat this week, we're seeing strawberry and cucumber prices spike, while lemons are at a 10-year low.

About 85 million Americans are abiding triple-digit temperatures across the U.S. Unfortunately for growers, much of the heat is also plaguing parts of the continent actively supplying fresh produce.

Produce markets repeat history with a week defined by declining prices. This week marks the beginning of the summer doldrums—a six-week period in which produce prices wilt along with the rest of us in the summer heat.

Apparently, in response to last month’s audacity to be, on average, one of the coolest Junes in the last few years, July weather is determined to set the whole North American continent ablaze. 

Undeterred by inflation, robust 4th of July demand and supply issues thrust average produce prices up +9 percent over the previous week. Heavily weighted commodities such as avocados and mixed berries are making this week’s prices some of the highest on record.

Significant increases in commodities such as raspberries, celery, and sweet corn are balancing the scale and steadying the index. Even with the continued hemorrhaging of cherry prices, average produce prices are flat over the prior week.