The Grocer – 20 July 2019

analysis retail & wholesale prices

Get the full story at thegrocer.co.uk 20 July 2019 | The Grocer | 17

PRICE CHANGE CHANGE

PRICES £/tonne m-o-m % y-o-y %

Packaging

Not used – old currants 2,653 2.50 51.9

Sultanas (EU) 1,902.5 0.60 29.1

Hazelnuts (UK) 5,918.67 1.40 27.8

Raisins (UK) 1,877.85 –3.30 17.2

Almonds (EU) 6,128.48 3.20 15.7

Dried apricots (UK) 2,654.55 0.30 5.7

Peanuts (EU) 1,080.68 –0.20 –2.2

Honey (ES) 2,126.34 7.00 –13.8

Black pepper (VN) 1,508.18 3.40 –19.4

Cashews (VN) 5,548.78 –1.90 –19.5

Source: Mintec.

Info: All prices are indicative only and are representative within the country quoted

The USDA has revised down
its production estimates for
the upcoming almond harvest.
In a report, the government
department lowered estimated
production volume by 12% to
2.2 billion pounds, 3.5% less
than last year. Production
has been aff ected this year
by erratic weather during
the bloom, which hindered
pollination. Consequently, the
average nut set per tree is set to
fall 17.8% from last year.
Growing conditions have
been good for apricots in

Turkey this year, despite

localised frosts in higher

altitude areas in April. Unlike

last year, there have been no

hailstorms in the summer , so

the quality of this year’s crop is

expected to be better.

Offi cials in Argentina

have revised up estimates

for this season’s peanut crop

by 3%, meaning it could be

27% larger than last year.

Crops have benefi ted from

a good distribution of rain,

particularly in the latter stages

of the growing season.

wholesale prices: almond harvest volumes set to fall

Supermarket banana prices

rising despite strong supply

S

hoppers are paying
more for supermarket
bananas following a
series of price rises across the
mults over the past two-and-a-
half months.
Average banana prices have
increased 3% since the end of
May, latest data suggests [Edge
by Ascential 29 May to 17 July].
Of the 43 diff erent own label
banana SKUs on sale across
the big four, Waitrose, Ocado,
Iceland, Aldi, Lidl and Amazon
Fresh, some 33% (or 14 lines)
have experienced price rises
since the end of May.
Just two of those 14 SKUs
were loose, with the remainder
of the price rises on bagged or
multiple bunches of the fruit.
Tesco has increased prices
on the most lines, the data sug-
gests. It added 10p to its fi ve-
packs of Keep Me and Ready
to Eat bananas last week, now
£1 each, as well as adding 6p
to bags of six organic Fairtrade
bananas and six organic small
bananas, up from £1.39 to £1.45
each.
Asda hiked the price of its

six-pack Fairtrade bananas

twice in the past four weeks –

fi rst from £1.08 to £1.39 on 26

June, and to £1.45 on 10 July.

The widespread price rises on

bananas across the UK’s main

supermarkets are not thought

to be the result of any commod-

ity price volatility, suggests

Mintec market analyst Rutika

Ghodekar.

Supplies have been plentiful

in Latin America, from where

the UK sources the majority of

its bananas, she adds, while

year-on-year wholesale prices

were down 1.2% last week at

£781/tonne.

“There is no reason for

banana prices to rise now,” she

says. “The market is well sup-

plied and exports to the EU

from Latin America increased

by approximately 20% during

the fi rst half of 2019.”

Instead, supermarkets are

most likely gradually increas-

ing prices on bagged SKUs to

try and make up for low or zero

margins on loose bananas,

which are an important loss

leader, says Alistair Smith,

international co-ordinator for

NGO Banana Link.

Growers Selection Ready to Eat

bananas on 19 June by 10p to £1.

The retailer has also increased

its price for loose bananas twice

since the start of June, with the

price per kg up from 76p to 78p

on 5 June, and rising again to

84p this week.

Morrisons has increased the

price of its fi ve-pack Ready to

Eat bananas twice since 19 June,

fi rst from 90p to 94p, and again

to £1 on 3 July.

Meanwhile, Lidl increased

the price of its fi ve-pack organic

bananas from 99p to £1.08 on

29 May, and again to £1.13 on

12 June. The discounter also

increased the price of its loose

bananas from 76p per kg to 78p

on the same date.

Elsewhere, Ocado, Iceland

and Aldi have all increased

the price of one banana SKU

each during the two-and-a-half

month period.

Amazon Fresh increased

the cost of its Ripen at Home

fi ve-pack from 90p to £1 on 10

July, and raised the price of its

Banana prices have increased on SKUs across all of the major grocers

Kevin White

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