Wholesale prices for tangerine this season have set new records in most European countries. The cost of citrus fruits in retail trade is approaching 2 euros per kilogram. The reason for this is a low harvest in Turkey and weather disasters in the EU. UNN reports this with reference to EastFruit.
Analysts note the difficult situation with tangerines in the European market at the end of 2024.
In Italy , the retail price of one of the most affordable seasonal fruits is close to 2 euros per kg for the cheapest varieties.
The situation with tangerine prices in Latvia is similar. In the last two weeks of December, supermarkets offered tangerines of dubious quality at 1.99 euros/kg, and 1.69 euros/kg for promotional items. At the same time, the demand for tangerines, as noted, remains visually high. Experts note that in 2024, the EU countries will have a low tangerine harvest due to weather disasters and logistics problems.
Wholesale prices for tangerines this season have set new records in most countries of the region. record high prices in Poland, Ukraine and Moldova.
According to international fruit and vegetable market expert Fedor Rybalko, in 2024, the tangerine harvest in Turkey, the world's largest exporter of fresh tangerine by volume and the third largest by value, fell sharply. Accordingly, Turkey has a huge impact on tangerine pricing in Eastern Europe and the Middle East. In addition, the country's influence on the EU tangerine market also continues to grow rapidly.
It is noted that in Central Asian countries, such as Uzbekistan and Tajikistan, prices are also on average 2 times higher than usual.
According to representatives of the fruit and vegetable trade, most Turkish packing centers suffered losses at the beginning of the season, as they sold tangerines below cost due to a sharp drop in demand for the product in Russia and Ukraine. Due to the fall in harvest, tangerines had to be purchased from farmers at a high price, but the sharp decline in purchasing power of the Russian population due to the devaluation of the ruble and galloping inflation led to a decrease in demand for tangerines.
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Mandarin importers to Russia are also reportedly suffering losses. They had to buy products at a higher price in US dollars. At the same time, the devaluation of the exchange rate led to even higher prices in rubles, which further reduced the demand for the products. As a result, some importers are forced to sell tangerines below the purchase price.
At the same time, Turkish exporters are in no hurry to sign new contracts for tangerine exports, expecting further price increases. They are confident that the decline in demand in Russia and Ukraine is not an insurmountable problem, as prices for products in other countries remain high.
Therefore, according to analysts, it seems that there will be no cheap tangerines this season.
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