Markets absorb chaos to achieve virtual equilibrium – Produce Blue Book

(Week 42, ending October 22sd)

ProduceIQ Index: $ 1.02/grind, apartment on the previous week

Between another Mexican hurricane, “Rick,” and Zuckerberg’s Metaverse, things just can’t get any stranger. Here’s to make sense of the chaos your weekly market highlights:

Hurricane Rick landed in Category 1 in southern Mexico (west of Acapulco) on Sunday, October 23rd. The storm is moving north with precipitation, including in the avocado growing region of Michoacan.

Facebook employs thousands of software developers to create their version of the Matrix. Their bet in virtual reality is to help you live your best life, albeit in a parallel universe. Of course, Metaverse will let you share your personal information and shop with gleeful abandon. In this world, all vegetables are perfect.

If you end up with too much asparagus, don’t worry, the internet is full of creative recipes that are sure to put your weed to good use. Asparagus muffins anyone? Prices are down -32% from the previous week and are expected to remain low as Mexican production increases throughout early November.

Asparagus prices drop from $ 34 to $ 14 in 2 weeks.

Blue Book has partnered with ProduceIQ BB #: 368175 to bring the ProduceIQ Index to its readers. The index provides a benchmark of commodity industry prices using 40 major commodities to provide data for decision making.

Despite the end of supply to New York a few weeks earlier this year and a price increase of +50 percent, green bean prices remain at the midpoint of historical precedents. Eastern and Western markets will remain on the move until Florida and Mexico resume production in the coming weeks. Expect prices to follow typical escalating patterns as supplies drop and vacation demand accelerates.

Beans are above $ 25 and have further upside potential.

Tomatoverse took a sad turn this week as new allegations of abusive working conditions prompted U.S. customs and border protection to suspend the import of tomatoes from Mexican producer Agropecuarios Tom SA de CV and Horticola SA CV. Expect customer demands for proof of social responsibility to increase in the future.

Apart from a slight drop in the price of grape tomatoes, overall tomato prices are tight. Mexican and Californian producers are struggling to meet the growing supply gap. On the plus side, as November approaches, Florida tomato production near the Tampa, District 4 area. Overall Florida shipments have declined dramatically from 28 million to 22 million 25-pound case equivalents. over the past five years.

Grape tomatoes remain close to $ 16, entering a period of historic volatility.

Broccoli prices may be down from the week before, but we’re skeptical whether the brief reprieve in shocking increases indicates downward momentum. Between heat and humid weather, expect markets to remain volatile until mid-November.

Blackberry markets have been hit after Hurricane Pamela damaged Mexican supplies. Prices are up + 14% compared to the previous week. Blackberry prices will remain high for a few weeks as Mexican growers regain a foothold.

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ProduceIQ Index

The ProduceIQ Index is the fresh produce industry’s only point-of-shipment price index. It represents the industry-wide price per pound at the packing location for domestic products and at the United States port of entry for imported products.

ProduceIQ uses 40 commodities to represent the industry. The Index dynamically weights each commodity, by season, based on 5-year weekly moving average sales. Sales are calculated using the USDA Agricultural Marketing Service for movement and price data. The index serves as a fair benchmark for the price performance of the industry.

About Nicole Harmon

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