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Market Report from Experts at Rema

07/11/2016

Market Report from Experts at Rema

What’s in store for artichokes and peppers? They’re two summer menu staples 

Artichokes:

The crop of Artichokes coming from Peru will have some delays, but the product looks good and if nothing changes weather-wise, they are expecting good yields. The new production will start slowly at the beginning of July with their pick by the beginning of August.

Spain finished their harvesting in May.

After a winter with mild temperatures, higher than usual, the artichoke region has been affected by frost. Temperatures fell below 5 degrees Celsius on February, 2016.

The high temperatures caused the production to accumulate, preventing the harvest from taking place in stages. Since artichokes are a winter crop, the unusual heat, accompanied by more sunshine, has led to a faster growth of the plants and to the caliber of the flowers being smaller and producing less yield this year.

They will start production again in January. However, the biggest concern now at the planting stages for the sector remains the very limited availability of water, which is more pronounced this year due to drought.

For this reason, companies in the sector are in the process of introducing varieties that require planting with seeds, as with other vegetables. But that will still take some time before we can see results. We will have more information regarding the new crop by December.

Peru has covered for part of the shortages in Spain and this has placed more pressure on the prices for artichokes intended for export that had raised the prices of the raw material to 70 cents per kilo, compared with 30 cents last season. The approximate increase for the finished canned product is between 7% to 10%.

Peppers:

Our suppliers in Peru reported that the season for Peppers looks good, although there is having some delay, but they are expecting good yields due to decent weather conditions in the growing regions.

In Turkey the growers are expected to have a good season as well, but they still have to wait about a month in order to see the final results. We hope be able to confirm this before the end of July when we will have a better idea of the market prices as well.

The growers in the US are also reporting good crops from most of the regions and for most of the Pepper varieties, which will decrease the need for importing fresh product that will be redirected for processing/canning at origin.

Content courtesy of Rema Foods

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