Potato & Onion Price Comparison | 5 Aug 2024
Summary
TLDRThis week's AMT/John Deere Fresh Produce Market overview discusses the unusual drop in onion prices below potato prices for the first time since March, driven by high volumes and a strong upward trend in potatoes. The report also covers the Rand's sideways movement, Brent crude oil's volatility due to geopolitical tensions, and market trends for other produce like tomatoes, carrots, and peppers. It forecasts a potential downward trend for onions, while highlighting the benefits of FieldNET Pivot Watch for farm irrigation management and promoting the upcoming International Fresh Produce Association's Southern Africa Conference.
Takeaways
- 📉 Onion prices dropped below potato prices for the first time since March.
- 💱 The Rand is currently trading at R18.18 per US dollar, moving sideways between R18 and R18.50.
- 🛢️ Brent crude oil price decreased to $77.90 per barrel due to volatile market conditions and geopolitical concerns.
- 🥔 Average national potato price increased by 16% to R80.75 per 10kg with expected shortages driving further price increases.
- 🍅 Tomato prices decreased by 18% to R8.07 per kilogram with expectations for prices to stay low during August and September.
- 🥕 Carrot prices remained stable at R3.92 per kilogram with higher volumes expected to keep prices low until October.
- 🧅 Average onion price decreased by 8% to R62.60 per 10kg, expected to drop below R50 and stay low until December.
- 🌶️ Pepper prices varied with green peppers at R18.43, yellow at R26.52, and red peppers increased by 12% to R33.75 per kilogram.
- 🍇 Average table grape price increased to R152.92 per kilogram, with pineapple, lemon, and blueberry prices also showing variations.
- 📅 International Fresh Produce Association's Southern Africa Conference will be held from August 5th to 6th in Cape Town.
Q & A
What is the focus of this week's AMT / John Deere Fresh Produce Market overview?
-The focus of this week's overview is on onion prices, which have moved below potato prices for the first time since March, and the potential direction of these prices over the next month.
What is the current trend of the Rand against the US dollar?
-The Rand is currently at R18.18 per US dollar and has been in a downward trend over the past few weeks, reaching lower highs each time, but now appears to be moving sideways within the band of R18 and R18.50.
How has the Brent crude oil price been affected by recent events?
-The Brent crude oil price decreased to $77.90 per barrel due to volatile markets influenced by Iran's reaction to the murder of the Hamas' leader and weak PMI data from the US and China, which could lower demand for Brent crude oil.
What was the percentage increase in the average national potato price over the past week?
-The average national potato price increased by 16% to R80.75 per 10kg with volumes 12% higher week on week.
What are the current prices for different sizes of potatoes?
-The large potato price is at R90, mediums at R78, and smalls at R60 per 10kg.
When is the expected drop in potato volumes in Limpopo?
-The drop in potato volumes in Limpopo is expected to come into the market at the end of August or the start of September.
How did the tomato price and volume change in the past week?
-The tomato price decreased by 18% to R8.07 per kilogram with volumes increasing by 13%.
What is the current trend for onion prices compared to the previous month?
-Onion prices are in a downward trend, decreasing by 8% to R62.60 per 10kg, and for the first time since March, they have moved below potato prices.
What is the expected trend for pepper prices in August?
-The pepper prices are expected to remain on a higher level for the remainder of August due to lower volumes.
What is the FieldNET Pivot Watch and how can it benefit farmers?
-FieldNET Pivot Watch is a monitoring system for irrigation systems that offers unmatched surveillance of any pivot, anytime, anywhere, providing cost-effective and time-saving solutions for farmers.
When and where is the International Fresh Produce Association's Southern Africa Conference taking place?
-The conference is taking place from August 5th to 6th at the Century City Conference Centre in Cape Town.
What is the latest information on the average price of bananas and their volumes?
-The banana price increased to R7.32 per kilogram or R132 per 18kg box with volumes increasing by 8% week on week.
What are the current prices and trends for apples and pears?
-The latest apple price decreased to R9.72 and is expected to stay on a higher level at least until November. The pear price decreased to R10.64 per kilogram and is likely to remain sideways over the next few weeks.
How did the avocado and table grape prices change recently?
-The Avo price decreased to R14.78 per kilogram with volumes jumping by 15% week on week. The average table grape price increased to R152.92.
Outlines
📉 Market Overview and Economic Indicators
This paragraph discusses the AMT / John Deere Fresh Produce Market overview, focusing on the unusual occurrence of onion prices falling below potato prices for the first time since March. It also touches on economic indicators such as the Rand's value against the US dollar and Brent crude oil prices, noting the market's volatility due to geopolitical events and economic data from major economies. The paragraph further details the price movements and volume changes of various produce, including potatoes, tomatoes, carrots, and onions, with a particular emphasis on the onion market's trend and forecast for the coming months.
🌱 Agricultural Technology and Market Prices Update
The second paragraph highlights the transformative potential of Zimmatic's FieldNET Pivot Watch for irrigation systems and encourages viewers to contact their local dealer for a quote. It then provides updates on various market prices, including cabbage, garlic, spinach, sweet potatoes, and pumpkins, as well as fruit market prices for bananas, apples, pears, oranges, avocados, table grapes, pineapples, lemons, and blueberries. The paragraph also promotes the International Fresh Produce Association's Southern Africa Conference, emphasizing its importance for professionals in the fresh produce industry. The video concludes with a call to visit the AMT Trends website for more information and a sign-off from Dr. Johnny van der Merwe.
Mindmap
Keywords
💡AMT / John Deere Fresh Produce Market overview
💡Onion prices
💡Potato prices
💡Rand
💡Brent crude oil price
💡PMI data
💡Tomato price
💡Carrot price
💡Pepper price
💡FieldNET Pivot Watch
💡International Fresh Produce Association
Highlights
Onion prices fell below potato prices for the first time since March, indicating a significant shift in the market.
The Rand experienced a downward trend, currently valued at R18.18 per US dollar, with sideways movement within a specific band.
Brent crude oil prices decreased to $77.90 per barrel, influenced by geopolitical events and economic indicators.
National potato prices surged by 16%, with increased trading volumes, suggesting a strong market demand.
Expectations of potato shortages could drive prices higher in the coming weeks.
Tomato prices dropped by 18%, with an increase in trading volumes, indicating a possible oversupply.
Carrot prices remained stable despite higher volumes, suggesting market equilibrium.
Onion prices continued to decrease, with a downward trend expected to continue until the end of the year.
Pepper prices showed variability, with red peppers experiencing a 12% increase, possibly due to lower volumes.
FieldNET Pivot Watch offers innovative monitoring solutions for farm irrigation systems, emphasizing cost-effectiveness and time-saving.
Cabbage, garlic, and spinach prices show fluctuations, reflecting the dynamic nature of the fresh produce market.
Sweet potatoes and pumpkin prices increased, indicating potential shifts in consumer preferences or supply conditions.
Banana prices and volumes increased, suggesting a growing demand in the fruit market.
Apple and pear prices are expected to remain stable, providing consistency for market planning.
Orange prices saw a slight increase with a decrease in local market volumes, indicating a potential supply constraint.
Avo prices decreased, but an expected increase in volumes may influence future pricing.
Table grape and pineapple prices increased, reflecting a positive trend in the fruit market.
The International Fresh Produce Association's Southern Africa Conference is set to provide valuable insights for industry professionals.
Transcripts
In this weeks AMT / John Deere Fresh Produce Market overview, made possible by
John Deere, Fieldnet Pivot Watch and the International Fresh Produce Association, we
focus on onion prices that moved below potato prices for the first time since
March and also look where these prices can go over the next month or so. All in this
week's episode, so make sure to stay tuned. Jumping straight into the latest economic
week's episode, so make sure to stay tuned. Jumping straight into the latest economic
news, the Rand is currently at R18.18 per US dollar. The Rand has been in a downward
trend over the past few weeks, where we've reached lower highs each time. However, it
now appears that the Rand is moving sideways within the band of R18 and R18.50.
The Brent crude oil price decreased further to $77.90 per barrel. Brent crude oil
markets have been very volatile over the past few days, with traders watching for
Iran's reaction due to the murder of the Hamas' leader, which could disrupt supply
to the market. On the other hand, weak PMI data from the US and China has started to
cause concern, which could lower the demand for Brent crude oil, putting pressure on
prices. The past week the average national potato price jumped up by another 16% to
R80.75 per 10kg with volumes 12% higher week on week. The large potato price traded
on R90, mediums on R78 and smalls on R60 per 10kg. Mondials traded higher on R83,
Sifras higher on R82 and Lanormas on R74 with the average price on Joburg on R81.40
per 10kg last week. Limpopo’s potato volumes are pretty much still as expected
and we only expect the drop in volumes to come into the market at the end of August
or the start of September. But the expectation of possible shortages soon will
likely result in prices to continue in its upward trend for this month. The tomato
price decreased by 18% the past week to R8.07 per kilogram with volumes increasing
by 13%. Large tomatoes traded on R8.25, Mediums on R8.45 while smalls decreased to
R7.17. We are still expecting this price to stay on a lower level during August and
September with middle month lower demand that can also keep prices lower over the
next two weeks. The average carrot price remained sideways on R3.92 per kilogram
with higher volumes keeping prices on a lower level. Large carrots traded lower on
R4.18, mediums higher on R3.45 and smalls also higher on R3.21. Higher volumes
expected from now until October will most likely keep this market under pressure over
this period. The average onion price remained in its downward trend, decreasing
by 8% to R62.60 per 10kg with brown onion prices on R62, red onions decreased to R157
while white onion prices decreased to R60 per 10kg. The average large onion price
traded on R62, mediums on R69 and smalls lower on R49 per 10kg. Onion prices moved
below potato prices for the first time since March due to higher onions volumes,
but also due to potato prices that is in a strong upward trend at the moment. I think
we can follow a similar trend as last year when onion prices came from higher levels
in May and June and then continued to decrease towards the end of the year. I
therefore think we can move below the R50 mark soon and then stay on a lower level
until December. The average pepper price decreased slightly to R23.15 per kilogram
while green pepper prices decreased to R18.43, yellow peppers decreased to R26.52
while Red peppers traded another 12% higher on R33.75 per kilogram. I think we can see
the price remaining on a higher level for the remainder of August due to lower
volumes. Join the excitement around FieldNET Pivot Watch! Experience unmatched
monitoring of ANY pivot, anytime, anywhere, offering complete peace of mind on your
farm. FieldNET Pivot Watch is not only cost- effective but also time- saving.
Ready to transform your irrigation? Contact your nearest Zimmatic dealer for a
quote on FieldNET Pivot Watch now! Looking at other market prices, Cabbage prices
decreased to R3.45, Garlic prices remained on R102 per kilogram while Spinach prices
decreased to R4.79. Sweet potatoes increased to R8 per kilogram while the
average pumpkin price increased to R2.94 last week. Over in the fruit markets, the
banana price increased to R7.32 per kilogram or R132 per 18kg box with volumes
increasing by 8% week on week. The latest apple price decreased to R9.72 last week
and is likely to stay on a higher level at least until November. The latest pear price
decreased to R10.64 per kilogram and it likely to remain sideways over the next few
weeks. The Orange price increased slightly trading on R5.42 the past week with volumes
on the local markets decreasing by 2% week on week. The Avo price decreased to R14.78
per kilogram last week with volumes jumping by 15% week on week. Fuertes traded lower
on R19.78, Hass on R12.04 while Pinkertons decreased to R14.36. We are expecting more
volumes during August to keep prices around current levels, but we might start to see
higher prices from September onwards. The average table grape price increased to
R152.92, pineapple prices traded higher on R8.26, lemons increased by 10% to R4.70
while the average Blueberry price traded lower on R77.86 per kilogram. Join us at
the International Fresh Produce Association's Southern Africa Conference
from August 5th to 6th at the Century City Conference Centre in Cape Town for the
premier event in the fresh produce industry. This year's conference is
meticulously designed to provide delegates with the latest insights on issues
affecting their bottom line and future growth. Whether you're a seasoned
professional or new to the industry, this conference is an opportunity you can't
afford to miss. Secure your spot today and be a part of shaping the future of the
fresh produce sector in Southern Africa. This video is made possible by John Deere,
Fieldnet Pivot Watch and the International Fresh Produce Association. Visit our
website at amtrends.co.za for more detailed reports, prices, and videos.
I’m Dr. Johnny van der Merwe, thank you for watching!
Voir Plus de Vidéos Connexes
5.0 / 5 (0 votes)