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Firm Polish apple prices in Q1 2021

April 6, 2021

1 mins read

The Mintec price of Polish apples rose by 12% to EUR 0.13/kg in the 11 weeks to 17th March 2021. The price increase can be attributed to expectations of a smaller crop for the 2020/21 marketing year (MY).

The United States Department of Agriculture (USDA) in November 2020 estimated polish apple production to be 10% higher year-on-year, at 3.3 million tonnes for the 2020/21 MY. However, market participants in recent weeks indicated that crop volumes may be smaller than initially projected because of extreme weather events and the absence of sufficient labour due to COVID-19.

Supplies have been further tightened, with news that a large number of Polish apples are of a lower quality or damaged due to weather events. Accordingly, these apples are more likely to be sold in the processing sector, rather than be used in the fresh market.

The current level of apple stocks is projected to dampen any further bullish impetus in the market. World Apple and Pear Association (WAPA) report stocks as of March 2021 to be 837,000 tonnes, up by 20% compared to the previous 5-year average (2016-2020). High stock levels, coupled with weaker retail apple demand year-on-year, is likely to provide some bearish sentiment across most European markets during Q2 2021.

 

 

 

Ramnikh Kular

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