Agronometrics Shorts: Key Trends and Strategic Insights from the 2024 IBO Report: Global Cross Border Pricing Trends

The recently released IBO report sheds light on the significant price trends in the global blueberry market during 2023, driven predominantly by strategic shifts and supply fluctuations owing to the impact of the El Nino phenomenon. Central to the 2023 market dynamics is Peru’s global presence amidst decreasing volumes, which played a critical role in influencing global prices. The impact of this was varied: Europe experienced substantial pricing pressure due to a combination of reduced output from Peru and shortfalls from Morocco and Spain, among others. This combination of factors created a tight market, leading to increased prices. In Asia/Pacific, the reliance on South American blueberries meant that any shift in the supply from this region had amplified effects.  The Americas also saw a significant rise in blueberry prices. The diverse sources of supply within the Americas helped to buffer against some of the shocks felt more acutely in other regions, but short seasons from the Pacific Northwest combined with Peru in the second half of the year.

Written by Sarah Ilyas