Historically High Mandarin Orange Prices
The Mandarin Oranges crop is very tight this season, with prices soaring as high as 40% on the FOB purchase price, reflecting the added costs of energy, tin plates, and packaging materials.
The opening prices for this season’s crop are about 40% higher than last season’s FOB prices, with an additional 50% increase to the cost due to ocean freight surges. Prices are expected to be at historical highs for landed cost into the USA Market.
Currently, it is very difficult to get product out of the Chinese port of Ningbo, which is the largest growing region for Mandarins. Covid issues continue to interrupt the manufacturing, trucking and the port, with added delays due to plants shutting down mid January in preparation for Chinese New Year.
Mandarin pricing out of Turkey and Spain are also very high and currently not competitive for the USA Market. This will be a difficult year for Mandarins and we are going to see prices at historical highs for a landed cost into the USA Market.
Schreiber Foods International will continue to monitor the situation and we will update our customers as the season progresses.