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The Mintec price of Egyptian oranges fell by 11% m-o-m and 20% y-o-y to EGP 14,325/MT in June
2021. The price decline is due to weaker European export demand compared to the peak of
coronavirus-related lockdown restrictions (Q2 2020). Furthermore, orange production is estimated by
the USDA to increase by 6% y-o-y for the 2020/21 MY, to 3.4 million tonnes, due to favourable
weather conditions. Official data does not reflect the orange oversupply because it is only based on
agricultural land plots that are registered at notary offices. There are vast amounts of unregistered
parcels of lands that produce oranges that are not accounted for.
The Mintec price of South African oranges fell by 16.8 y-o-y % to ZAR 3,642/MT in June 2021. The
price decline can be attributed to weaker European export demand y-o-y. Furthermore, South African
orange production is forecast to increase by 2% y-o-y, to 1.65 million tonnes, for the 2021 season.
Moreover, the orange planted area is estimated to grow by 3% to 46,000 hectares in the 2020/21 MY,
from 44,728 hectares in 2019/20, based on the rise in planted area for seedless orange varieties and
late maturing varieties.
US orange prices rose by 15.6% m-o-m and 12.2% y-o-y to USD 15.25/box in June 2021, in line with
tighter supplies. The US orange production forecast for the 2020/21 season is 4.45 million tonnes,
unchanged from the previous forecast but down 15% compared to the 2019/20 season. US orange
prices have also remained firm due to the robust demand for citrus.