The Mintec price of Brazilian courgette reached BRL 6.46/kg on the 19th of August 2021, an increase of BRL 2.31/kg (+63%) month-on-month (m-o-m). This is the highest level since Mintec started the price series in 2014 and is largely attributed to supply shortages, caused by adverse weather in late-July. Brazil saw some of its coldest weather in over 25 years, with sub-zero temperatures for several days, causing frost damage across main courgette producing States - São Paulo, Minas Gerais, Rio de Janeiro, and Parana.
Courgette is one of the most consumed vegetable with the highest economic value and production in Brazil. According to the Brazilian Ministry of Agriculture, Livestock and Food Supply (MAPA), about 135,750 tonnes of courgettes equivalent to USD 55.54 million was produced in Brazil in 2019. More than 50% of the country's courgette production comes from the Southeast region with several harvests throughout the year. Courgettes typically develop optimally in dry conditions at temperatures between 20°C and 30°C and are particularly sensitive to frost. As a result, the recent cold weather in Brazil reportedly curtailed approximately 40% of expected output. Based on the recent reports, Mintec expects a continuation of the cold weather, which in turn continues to support courgette high prices over the next month.