PINEAPPLE CROP UPDATES - Q3 2024

The 2024 summer pineapple crop in Thailand is winding down. Production has been inconsistent due to prolonged hot weather and a delayed start to the rainy season.

Raw material prices have rarely been higher, with limited fruit supplies available for processors. Offers for concentrate from Thailand are increasing again this month. Demand has been strong, and buyers are actively seeking supplies. Producers are trying to catch up on a backlog of orders, but no one is receiving the volume they need. Full-year production for 2024 is expected to reach only 650,000-700,000 MT*, down from over 2.0 Million MT a few years ago.

However, the high fruit prices have encouraged farmers to replant, and the forecast for 2025 is much better at 0.9-1.0 Million MT. Growing conditions in Thailand are currently hot with plenty of rain, which is beneficial for the winter crop.

Meanwhile, Costa Rica is also experiencing a shortage of fruit, and analysts predict this situation is unlikely to change for the rest of the year.

 

 

*MT = Metric Tonne = 1,000 Kilogram