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In Italy, the wholesale price of pistachio kernels dropped by 3% MoM, with Iranian and US origin pistachios at USD 15.68/kg and USD 13.51/kg, respectively. This decline is due to the upcoming Northern Hemisphere harvest and ongoing weak consumer demand in Europe, compounded by high inventory levels and the prospect of a record global harvest. Amid the abundant harvests of nuts like almonds, walnuts, and hazelnuts, nut prices globally are facing downward pressure.
Over the past month, the lemon market in France has experienced a notable price surge, primarily fueled by rising consumer demand. Wholesale prices of fresh lemons at the Rungis Market saw a significant increase, rising by 13% to reach USD 2.70 per kilogram (kg) as of August 28, compared to the earlier rate of USD 2.39/kg recorded on August 7.
As the stone fruit season comes to an end, the market focus is shifting towards citrus fruits sourced from the Southern Hemisphere, particularly lemons from Argentina and South Africa. The market is showing favorable conditions with strong demand, likely attributed to the cooler weather experienced in recent days.
In September, prices are anticipated to trend downward as the supply from Argentina and South Africa continues to grow. A more significant decline is expected in October with the entry of Northern Hemisphere products into the French market, further impacting prices.
Trade4go
Aug 31st, 2023
