The major growing region has experienced poor weather. Prices have firmed and are expected to remain so for the foreseeable future.
Some reports state that this year’s crop will be 10% larger than that of last years. Even if this is the case though, it would be considered 20% smaller than “normal.” Preliminary results indicate a yield of 5.3-5.5kg per ton of fruit, up from last year’s yield of 4.5kg/ton. Prices should be stable.
Spain, Brazil, California, and Southern Italy have all been experiencing bad weather, leading to reports of large reductions in crop sizes. Argentina, the largest producer, reported a crop 10-15% larger than last year’s, slightly offsetting the losses elsewhere.