Grape Price Trend and Forecast

Grape Regional Price Overview

Get the latest insights on price movement and trend analysis of Grapes in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Grape Price Trend for Second Half of 2023

In the later months of 2023, hurricane Hilary dealt a blow to California grape growers, causing a significant reduction in the production rates of grapes, with seedless grapes experiencing a 56% decrease in their production activity. Thus, due to this limited availability of the commodity in the market, the price for seedless grapes surged by a double-digit percentage compared to last year.
 

Grape Price Chart

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International importers of Californian grapes, particularly in Asia, also felt the impact, with some experiencing lower volume and quality concerns due to the hurricane. In Asian countries too, the domestic production remained on the lower end due to disruption of weather patterns amid the adverse effects of El Nino.

On the other hand, the influx of Californian grape supply in Hong Kong markets inclined by several folds but other regions such as Japan, South Korea, Singapore, and Vietnam faced challenges. In Japan and South Korea, importers expressed concerns about supply stability, high prices, and quality issues. To further aggravate the conditions of the market, the depreciation of the Japanese yen as compared to the US dollar made the surge in grape prices much steeper.

Singapore also struggled with poor grape quality, leading to a shift towards air shipments. In Vietnam, importers struggled to guarantee quality via sea shipments post-Hilary. Consequently, importers across Asia favored air freight due to quality and supply concerns. Despite challenges, importers in Taiwan and Malaysia expressed satisfaction with grape quality, particularly those received via air freight, which was reflected in the smooth movement of grape prices in these regions.

Analyst Insight

According to Procurement Resource, the price trend of Grape is estimated to incline gradually in some parts of the world but steeply in others, particularly Asian countries, amid the lower rates of production.
 

Grape Price Trend for First Half of 2023

In India, the prices of grapes suffered with unreasonable rains, especially in Nashik, which eventually led to a drop in the prices of grapes by almost 50% in the Asia-Pacific region. The production costs of grapes rose consistently in the region while farmers and traders struggled to recover that as the demand for grapes also remained subdued. The export of grapes from India has begun on a bad note as recession fears are beginning to engulf European markets.

While West Asia and Bangladesh receive most of the Indian grapes, the European markets command higher prices. In the month of June, the US market showed some signs of recovery due to a slowed influx of produce. The recent spike in table grape prices in the US was most likely the result of weather changes in the Mexican state of Caborca, Sinaloa, rather than inflation.

Analyst Insight

According to Procurement Resource, the price of Grapes is estimated to depict ups and downs in the upcoming months as the market sentiments will likely suffer from the fear of recession, slow supply, and rising inflation.

Procurement Resource provides latest prices of Grape. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.