Agronometrics Shorts: Mexican Asparagus Prices Plunge Amidst Surplus Supply

Mexican asparagus is experiencing an intriguing dynamic of surplus supply against a backdrop of rising demand. The season is a couple of weeks past its peak production phase; the abundance of asparagus from Mexico has led to a decline in prices, presenting an opportune moment for both retailers and consumers. During week 10, prices plummeted to $10.85 per package, marking a significant 44% decrease compared to the same period in 2023. According to a recent report by the USDA , retailers are capitalizing on this scenario by launching aggressive promotional campaigns, which have been effective in driving sales. Shippers are optimistic that the current pricing trend will further boost sales both in the retail and open markets. One of the contributing factors to this surplus is the favorable weather conditions experienced by growers, leading to increased yields. Cruz Carrera of Five Crowns Marketing highlighted the significance of Mexico’s peak production phase, emphasizing that ideal weather conditions have contributed to the industry’s robust supply. With asparagus shipments ongoing from various regions of Mexico and the conclusion of Peru’s shipping season, Mexico currently dominates the North American asparagus market. Looking ahead, the industry anticipates sustained demand, especially with the upcoming Easter holiday, historically a significant period for asparagus sales. “Current supply is about 28 percent higher than the same time last year,” says Carlos Solf, VP of procurement at Southern Specialties. He further notes the early start to the Caborca season which has resulted in ample production of high-quality asparagus. The season’s early onset may lead to a conclusion by mid-April, underscoring the need for timely promotional activities to capitalize on the market momentum.

Source: USDA Market News via Agronometrics.

(Agronometrics users can view this chart with live updates here)

Source: USDA Market News via Agronometrics.

(Agronometrics users can view this chart with live updates here)

Written by Sarah Ilyas