LOS ANGELES, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Grapefruit prices in the U.S. will continue to grow this year, according a new report published by market research firm IndexBox. The average retail grapefruit price in the U.S. is estimated at approx. $1.02 per pound in Feb. 2022, 12% more than in the same period last year. In 2022, grapefruit prices are forecast to grow by 4% due to rising fertilizer and logistical costs and reducing domestic supply. This year, the output is set to drop by 11% to 343K tonnes due to smaller harvests in Texas and California. U.S. grapefruit imports are expected to increase by 19% y/y to 25K tonnes with boosting purchases from Mexico.
Global grapefruit production is projected to rise by 4% y/y to 7M tonnes in 2022 thanks to favourable weather and expanded area in Mexico, South Africa, Turkey and China. Mexico's output is forecast to increase by 5% y/y to 534K tonnes, while China’s production will pick up 250K tonnes to a record 5.2M tonnes. South Africa is expected to harvest 374K tonnes of grapefruits, 2% more than a year earlier. Turkey production is to rise by 5% y/y to 250K tonnes. EU output is to grow by 3% y/y to 108K tonnes due to anticipated higher production in Spain.
Global Grapefruit and Pomelo Exports
In 2020, global grapefruit and pomelo exports reached 1.2M tonnes, approximately equating to the previous year. In value terms, supplies totalled $918M.
The shipments of the four major exporters of grapefruits, namely South Africa, Turkey, China and the Netherlands, represented more than half of total exports. Israel (82K tonnes) ranks next with a 7.1% share, followed by Spain (5.6%) and the U.S. (4.8%).
In value terms, the Netherlands ($151M), China ($136M) and South Africa ($132M) accounted for 46% of global exports. Turkey, Israel, Spain and the U.S. lagged somewhat behind, together comprising a further 33%.
The average grapefruit export price stood at $796 per tonne in 2020, increasing by 2.5% against the previous year. There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the U.S. ($1,267 per tonne), while Turkey ($499 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Spain, while the other global leaders experienced more modest paces of growth.
Top Largest Grapefruit and Pomelo Importers
In 2020, the Netherlands (194K tonnes), distantly followed by Russia (95K tonnes), China (79K tonnes), France (67K tonnes), Japan (63K tonnes), Germany (58K tonnes), and Poland (56K tonnes) were the largest buyers of grapefruits, together mixing up 55% of total supplies. The following countries - Ukraine (39K tonnes), Canada (38K tonnes), Romania (36K tonnes), the UK (32K tonnes), Hong Kong SAR (30K tonnes) and Italy (26K tonnes) - together made up 18% of total imports.
In value terms, the Netherlands ($187M) constitutes the largest market for imported grapefruits worldwide, comprising 18% of global imports. The second position in the ranking was occupied by China ($79M), with a 7.4% share of total supplies. It was followed by France, with a 7.3% share.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
For more information, please visit.
Website https://www.indexbox.io
Twitter https://twitter.com/indexbox
YouTube https://www.youtube.com/IndexBox
LinkedIn https://www.linkedin.com/company/indexbox-marketing/
Companies Mentioned in the Report
Hyatt Fruit Company, IMG Citrus, Alico Citrus, King Ranch, Citrosuco SA Agroindústria, Sucocitrico Cutrale Ltda, Louis Dreyfus Commodities Brazil SA., Dohler America Latina Ltda, Coppersteel Bimetalicos Ltda, Stolt-Nielsen Brazil Ltda., Firmenich & CIA. Ltda., Citrus Juice Eireli, Commerciare Caia SA de CV, Martucci Srl, Magan S.A. E C.V., Lo Casto S.R.L., Grupo Nuevos Mercados, San Ignacio, Azienda Agricola Biologica Jalari Di Salvatore Pietrini, Azienda Agricola Tortorici, Oranges S.R.L., Agrumfruit, F.Lli Milazzo
Sources
World - Grapefruits (Inc. Pomelos) - Market Analysis, Forecast, Size, Trends and Insights
World - Grapefruit Juice - Market Analysis, Forecast, Size, Trends and Insights
World - Citrus Fruits - Market Analysis, Forecast, Size, Trends and Insights
World - Fruits - Market Analysis, Forecast, Size, Trends and Insights
World - Fruits and Berries - Market Analysis, Forecast, Size, Trends and Insights
