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Market Data 10.05.2022

Brazil: Progress of the harvesting of early oranges may lower prices

The harvesting of early oranges is expected to advance in May, which may raise supply and press down quotations. In general, availability has been growing since mid-April, weakening prices.

Brazil: Progress of the harvesting of early oranges may lower prices
(Photo: CEPEA)

The harvesting of early oranges is expected to advance in May, which may raise supply and press down quotations. In general, availability has been growing since mid-April, weakening prices.

In April (until April 28th), the average price for pear oranges closed at BRL 42.10 per 40.8-kilo box (on tree), a slight 4.96 % down from that in March (BRL 43.00/box). Before that, values had increased for two months.

On the other hand, for early oranges, quotations were firm in April – the average price for rubi oranges closed at BRL 35.71/box, 3.63 % higher than that in March. As the values for this group of oranges have been lower than that for pear oranges, the competitiveness of early oranges has increased.

For the coming weeks, if prices drop, sales tend to increase, since demand may be higher. However, if values decrease too steeply, farmers may reduce the harvesting, since the oranges on tree have not reached the ideal maturation stage yet. Thus, citrus farmers may prefer to wait for the beginning of activities at processing plants. The industry’s purchase proposals for the oranges from the 2022/23 season have been up to BRL 32.00/box (harvested and delivered).

Although two plants of the large-sized processors were processing oranges in late April, activities were slow because of low supply. By the end of last month, only one plant was purchasing early oranges (as long as ratio is near or higher than 14).

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