Market Update – Apr 16th
Hey! So…it’s the WEEKLY MARKET UPDATE! Let’s keep it somewhat brief and but like informative…’cause that’s important.
Supply and quality overall is seen as good on most items. TRANSITION is in effect, and we’ll be sending out a more detailed email on that so BE ON THE LOOKOUT. Did you visualize eyeball emojis? Okay good.
The Banana markets still remain escalated as Force Majeure/Act of God being declared by most major global banana suppliers. They really did suffer major damage to crops and more importantly their infrastructure which caused a large ripple in the supply chain. We expect the banana market to remain escalated through to Q1 2021.
An active market to keep in mind through toward summer…LIMES. Add Avocados to that mix as both are in tight supply coupled with higher demand. We’ve also experienced tight supply because of yield loss out of Mexico.
Transportation…a quick bit on this. Rates are skyrocketing due to shortages on equipment and rising fuel prices. Expect prices to rise as our product crosses the border from Mexico/USA.
LOCAL…Local Ontario is on the horizon! And we see this with the introduction of RAMPS…aka Wild Leeks! And what’s great about the ones we’ll have in stock this year is that they are SUSTAINABLY FORAGED. You’ll see them cut just above the root so that we can enjoy this amazing short-season product for generations to come!
Look out next week for another update. We’ve also got a Peak Season item list rolling out as well. AND the ever important Transition Update.
And of course…don’t ever hesitate to reach out! Contact your Account Manager, email us at Support@BondiProduce.com, and yes ALWAYS slide into the DMs.
Have a great weekend! But also…see below!
Canola Oil prices have hit historical highs and expected to escalate through to summer. We are experiencing a massive reduction in supply due to labour and supply shortages that has affected us since the start of the pandemic last year. Exports of Canadian product have also added strain on the supply chain as we wait for new crop.
Supplies on all berries are and will continue to be a challenge due to transition and weather. Expect escalated pricing, supply shortages, quality issues. Raspberries are improving and we expect the other varieties to follow suit over the next few weeks.
Demand is strong with light supplies. Some quality issues seen along with inconsistencies with sizing availability. Prices have escalated and expected to remain elevated over the next couple of weeks.
With sizing inconsistencies seen, size grades of 54ct/63ct will be expected to run at a premium with some volatility in pricing week in/week out on 200ct/230ct throughout April coming into May.