Fruit & Vegetables
Banana & Grapes
600
750
900
1,050
1,200
1,350
Dec 19 Mar 20 Jun 20 Sep 21 Dec 21
Banana US - USD/MT
Sep 20 Dec 20 Mar 21 Jun 21
6V24 - Banana (S Ame) mp Chic US hi
US banana prices rose by 1.2% m-o-m to USD 1,051/MT in December 2021, in line with supply risks
due to Tropical Race 4 (TR4), and rising costs amid increased phytosanitary rules for the import of
banana plant material. In addition, input costs are rising for Latin American banana exporters and are
projected to be passed on to US retailers. This includes fertiliser and shipping costs, which are driving
prices higher.
EU banana prices declined by 2.5% m-o-m to EUR 805/MT in December 2021, in line with robust
European supply for the 2021 season and seasonal trends. Key cost drivers in 2022 include
transportation, raw materials and logistics, which are expected to drive prices higher.
600
680
760
840
920
1,000
Dec 19 Mar 20 Jun 20 Mar 21 Jun 21 Sep 21 Dec 21
Banana EU - EUR/MT
Sep 20 Dec 20
EU banana (HX48, LI70, HX46)
1.50
2.00
2.50
3.00
3.50
4.00
4.50
Dec 19 Mar 20 Jun 20 Jun 21 Sep 21 Dec 21
Grapes US - USD/kg
Sep 20 Dec 20 Mar 21
US grapes (6V95,6V96 & 6V97)
The Mintec price of US grapes declined by 7.3% m-o-m to USD 3.36/kg in December 2021, in line
with an anticipated increase in production. The price has remained relatively stable over the previous
three-month period. The USDA forecasts a rise in US production for the 2021/22 MY, up by 4% y-o-y to
905,000 tonnes, likely limiting any upside price movement. Drought conditions are expected to limit
the growth in production for the 2021/22 MY. In addition, export demand is declining, with fewer
shipments from the US forecast in the 2021/22 MY. This is expected to act as a bearish driver in the
2021/22 MY.
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Oct 19 Jan 20 Apr 20 Apr 21 Jul 21 Oct 21
Grapes Chile* - CLP/kg
Jul 20 Oct 20 Jan 21
LG83 - Grapes whs CL
Chilean grape prices rose by 24.2% m-o-m to CPL 2,742/kg in October 2021, as demand reaches its
peak when the season commences. This is in line with seasonal trends. China and Southeast Asia
countries demanded more grapes from Chile, causing export volumes to rise y-o-y. The first ASOEX
(The Association of Fruit Exporters of Chile) forecast for Chilean grape exports in the 2021/22 MY, is a
rise of 29.3% y-o-y, which is likely to put upward pressure on prices throughout the season. However,
production is expected to rise y-o-y following a poor harvest in 2020/21, potentially limiting the peak
of prices in 2021/22.
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*October 2021 is the latest available monthly data