Thailand is expected to harvest around 1.15m ton of Pineapples in 2021. In 2022 the harvest is expected to recover to 1.4m ton. However this is still far from a normal crop compared to Thailand’s past which used to be 1.8 – 2.2m tons. Volume for both Philippines and Indonesia are estimated to be steady.
Currently, there is very limited stock in Rotterdam and at customer’s side. With Juice Consumption showing strong demand during pandemic, pricing will tend to be steady despite improving harvest from Thailand. If juice consumption remains growing, there is a good chance that this price might move higher.
Demand
Juice Consumption has shown strong demand since Pandemic as consumers consider drinking juice as a method to improve immunity. Euro Monitor projects positive growth in 2021 which will continue for the next 5 years.
Supply
Pineapple Juice Concentrate Production from Thailand recovered from 2020 but remains significantly below the last 5 years of production. Volume for both Philippines and Indonesia are estimated to be steady. Currently there is very limited stock in Rotterdam and with the Customer.
Market Pricing
There should be less fluctuation in prices for the next six months and prices are likely to remain on the high side during this period. There should not be any significant change in market price as global demand of juice is recovering after strong sales during the pandemic. In addition, there is no old stock at Rotterdam thus the prices should remain stable until Global PJC supply return to normal.
