CROP UPDATES: PINEAPPLE JUICE - Q2 2024

THAILAND

  • The 2024 Summer pineapple crop in Thailand began after the Songkran festival in mid-April. However, it has been extremely hot there recently and there is a lack of rainfall. The current weather conditions are making it difficult to be optimistic about production from the crop, say industry sources, who add that the pineapples are small and many are burnt.
  • Fruit pricing remains very expensive at THB 14/kg and there are only limited qualities available. Some of the larger companies are paying even higher prices to secure fruit, which is only helping to drive the market up higher.
  • This extremely short supply in Thailand has been in place since January and there was hope that the new season would bring some relief to the market.
  • The industry produced around 800,000/MT of fruit in 2023 and output in 2024 is expected to fall further to 600,000-700,000/MT. A few years ago, the country could produce more than 2.0+ million/MT.
  • With the high fruit pricing, producers say they would like to ask for USD 3,500/ MT, but they know they would not make any sales. Instead, producers are asking for at least USD 3,100/ MT 60 brix FOB Bangkok.
  • Either way, there are hardly any supplies available in Thailand at the moment and there are delays with shipments. Some buyers have been asking for early deliveries, which producers say is impossible at the moment. Thailand has reportedly shipped just 25% of the quantities they are contracted for in the first four months of this year. Nevertheless, demand has reportedly been fairly quiet for new orders recently.

COSTA RICA

  • Producers in Costa Rica are reportedly offering supplies between USD 2,800- 3,100/MT aseptic 60 brix CFR Europe, compared with USD 2,500- 3,200/MT last month. There are some producers in Costa Rica with limited supplies.
  • The next crop in Costa Rica will run from mid-May to Mid-July, but output is not expected to be great and there will be less fruit available that last year, say analysts