Trendspotting: It isn’t easy being green… beans
Trendspotting: It isn’t easy being green… beans
Green bean prices are nearing a 10-year high as availability on both coasts is tight, according to ProduceIQ.
“In the West, supply is forecasted to tighten for the next two weeks,” said Mark Campbell, founder and CEO of ProduceIQ. “In the East, Florida’s acreage has been low, and the season is winding down production earlier than anticipated due to intense wet weather throughout the Southeast. Georgia is a couple of weeks out from filling the remaining Eastern supply gap.”
Wild weather in the Southeast isn’t just affecting green bean markets. Bell peppers are up 15 percent — to $18 — over the previous week and are rising in anticipation of tightening green and colored supply.
“Thanks to steady supply and multiple online growing regions in the West, markets are coping with struggling eastern supply uncharacteristically well,” said Campbell. “As a result, eastern quality could be better but will improve as Georgia growers come online.”
Grape volume is also low, and therefore red and green grape prices are high. According to the USDA, reported volume hasn’t been this low in the last 10 years aside from 2020.
“Suppliers won’t feel the effects simultaneously,” said Campbell. “Still, they will most likely experience severe volatility in product availability as buyers look to fill gaps in the spot market. Moreover, because of the severity of the shortage, conditions are expected to persist through May and into June.”
Campbell said strawberry markets are in great shape for Mother’s Day next week. He reported excellent quality and strong availability are keeping prices in line with the USDA average.
Campbell said celery prices are rising rapidly as prices are up 63 percent over the previous week and are poised to climb higher. “Waning supply in Santa Maria/Oxnard, CA, combined with unseasonably wet and cool weather, leads to tighter supply,” he said.
