Dried Fruit

Dried cranberries: no end to the price rally in sight

February 14, 2022 at 3:57 PM, Der AUDITOR
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MADISON/OTTAWA. Lower availability in the current season cause spot market prices for dried cranberries to rise significantly. Ongoing transport problems are also contributing to the price increases.

Lowest carry-over supplies in ten years

Market players' fears have come true and the cranberry market has started the 2021/22 season with the lowest carry-over stocks in the past ten years. Chelmer Foods experts put this at 4.186 million barrels, 453,000 barrels less than the carry-over supplies of 4.369 million barrels carried into the 2020/21 season. Experts estimate total available stocks for 2021/22 at 12.25 million barrels. This means that the crop is relatively low for the third year in a row, which is mainly due to the warm and humid summer of 2021 in North America, which led to increased mould growth on the fruit. The losses could not be compensated by the 20% increase in acreage.

No easing to be expected

The lower stocks have led to a further strong increase in prices on the European spot market in recent weeks. Cut red cranberries from the USA now cost EUR 4.65/kg FCA Spain, which is EUR 0.30/kg more than in mid-January. Prices for whole red cranberries of the "Ocean" variety have even risen by EUR 0.50/kg in this period. Catz also reports that new orders can only be concluded with a longer waiting period. As the new crop will not be available until the end of 2022, experts do not expect the situation to improve significantly before January 2023. Transport problems such as the ongoing container shortage and fully booked cargo ships are also taking their toll.

Dried cranberries

Type, origin

EUR/kg

Red, whole, “Ocean“

5.60

Red, cut, USA

4.65

Black, whole, “Cond“, USA

10.90

FCA Spain

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