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Market Data 09.02.2021

Brazil: Low supply may keep prices high in February

Price averages of all orange varieties were firm in January in São Paulo state and may continue high in February. The lower production in the citrus belt (São Paulo and Triângulo Mineiro) in the 2020/21 season and difficulties to harvest in some areas, due to rains, underpinned values.

Brazil: low supply may keep prices high in February
(Photo: CEPEA)

Price averages of all orange varieties were firm in January in São Paulo state and may continue high in February. The lower production in the citrus belt (São Paulo and Triângulo Mineiro) in the 2020/21 season and difficulties to harvest in some areas, due to rains, underpinned values. Moreover, the supply of high-quality orange was low – most fruits available in January had characteristics unwanted by consumers, such as large size and thick peel.

In January/21, pera rio orange quotes averaged 39.06 BRL per 40.8-kilo box, on tree, 27.9 % up compared to January/20, but a decrease of 3.6 % in relation to December/20, in nominal terms. As for lima orange, the average was 73.85 BRL/box, 101 % up in the annual comparison, but 8.6 % lower in relation to December/20. Natal orange values averaged 35.07 BRL per box (+29.9 % in one year, but -3.4 % compared to the month before).

Values may continue at high levels to citrus growers in February, mainly for high-quality fruits in the in natura market. The loss of fruitlets and the low rate of established flowers last year that now result in a limited volume of out-of-season oranges favor this scenario. As for the demand, it can increase in February because of high temperatures.

As for the first oranges harvested in the 2021/22 season in Jales, where major flowerings are advanced, they can be available from March onwards. However, due to the dry weather in the second semester of 2020 and the consequent low rate of flowers established, the volume may not be very high.

TAHITI LIME – The peak season in São Paulo continued to press down tahiti lime prices in late January. However, producers reported problems brought by hot weather and rains, which can increase the allocation of fruits to crushing activities and limit the supply in the in natura market.

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