The Mintec Benchmark Price for Brazilian orange juice concentrate FCA in Europe [Mintec Code: 4J01] reached €4,251/MT at the end of September, marking a 101% year-on-year (y-o-y) increase. Market sources remain bullish for October. Meanwhile, the Mintec Benchmark price for apple juice concentrate with medium acidity FCA in Europe [Mintec Code: FJ05] stood at €1,575/MT for the same period, a 27.9% y-o-y rise, according to market sources throughout October prices will rise further.
Europe and China are amid their apple harvest, while farmers in major orange-producing country Brazil continue to pick its crop. Poland is a key player in European apple production and juice processing, the Polish Government's Statistical Office (GUS) has forecast its apple crop to be 3.8 million tonnes. However, market sources anticipate that the actual production may fall short of this projection. Market sources said the industry might turn to Chinese apple juice concentrate in Europe if European prices continue to escalate.
Demand for apple juice remains robust in Europe, partially attributable to the elevated prices of orange juice which has led many consumers and retailers to explore alternative options. In Brazil, the orange juice industry continues to grapple with the impact of greening disease on orange crops. The current harvest has been forecast by Fundecitrus at 309 million boxes, a 1.6% decline y-o-y. However, market sources suggest that the actual yield may be even lower. Globally, demand for Brazilian orange juice remains strong, the US has increasingly relied on Brazilian supply, given its dwindling crop, contributing to the ongoing orange juice price rally.