Mangoes in Charts: Record prices in June may remain high for coming months
In this 'in charts' series of articles, Colin Fain of data visualization tool Agronometrics illustrates how the U.S. market is evolving. In each series, he will look at a different fruit commodity, focusing on a different origin or topic in each installment to see what factors are driving change.
Let me begin by saying that mangoes are amazing! I am a huge fan of this fruit, which very often frequents my breakfast, so I’m pretty excited about this article. With the great prices the industry has been seeing, it's hard not to write about them.
In a maturing industry, June this year in particular came as a surprise to me, reporting the highest shipping prices we have on record for that month.
US Mango Shipping Point Prices, 1 Layer Flats, by Month, Comparing the Last Four Years
Until 2015, where we saw the highest average yearly and monthly price, there seemed to be no roof on where mangoes could go. Over the last two years, impressive growth by Mexico, Ecuador and Peru - the three largest suppliers - has been filling in some of the gaps in supply and helping to stabilize prices. Ecuador and Peru are particularly notable, coming in right where prices have historically been the highest.
Mango Shipping Point Prices, 1 Layer Flats, in USD
In 2017 the industry moved 46% more volume than in 2010, an impressive level of growth that made good headway in bringing to the U.S. a fruit that has long been one of the most popular in the world. That last fact might surprise people, but keep in mind that mangoes are originally from India, and massively popular in tropical countries where they grow.
Mango Movements in Lbs
Our friends at the U.S. National Mango Board are predicting that Mexican volumes could come in at 15% lower year-on-year from July through October, which could very well mean that prices for the industry will continue to run high for the months to come.
Mango Volumes in 8.8Lb Boxes
In our 'in charts' series, we work to tell some of the stories that are moving the industry. Feel free to take a look a some of the other articles listed below.
Agronometrics is a data visualization tool built to help the industry make sense of the huge amounts of data that you depend on. We strive to help farmers, shippers, buyers, sellers, movers and shakers get an objective point of view on the markets to help them make informed strategic decisions. If you found the information and the charts from this article useful, feel free to visit us at www.agronometrics.com where you can easily recreate these same graphs, or explore the other 20 fruits we currently track, creating your own reports automatically updated with the latest data daily.