IndexBox has just published a new report: ‘Spain – Peaches And Nectarines – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Spain remains the largest peach and nectarine exporter worldwide, with a share of 34% in terms of the global volume. In 2020, the harvest was damaged by frosts, which led to a reduction of supplies. Export prices thus ramped up and are to remain high until yields stabilize. Despite this, Spain’s position on the key foreign markets in Germany and France remained secure. The year 2021 remains uneven in terms of future yield, which strengthens the risk that buyers will seek cheaper alternatives.

Exports from Spain

Peach and nectarine exports from Spain reduced rapidly to 654K tonnes in 2020, falling by -21.1% against 2019 figures. This was largely attributed to a harvest loss due to frosts in 2020. In value terms, peach and nectarine exports expanded remarkably to $971M (IndexBox estimates) in 2020.

Exports by Country

Germany (208K tonnes), France (112K tonnes) and Italy (96K tonnes) were the main destinations of peach and nectarine exports from Spain, with a combined 64% share of total exports. These countries were followed by the UK, Portugal, Poland, the Netherlands, Belgium and Switzerland, which together accounted for a further 25%.

In value terms, Germany ($332M) remains the key foreign market for peach and nectarine exports from Spain, comprising 34% of total exports. The second position in the ranking was occupied by France ($156M), with a 16% share of total exports. It was followed by Italy, with a 12% share.

From 2007 to 2020, the average annual growth rate of value to Germany amounted to +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1.5% per year) and Italy (+4.7% per year).

Despite rising prices, Spanish peaches and nectarines hold near 80% in terms of German imports and over 90% in French imports. In 2021, there is a risk that adverse weather conditions may continue, which could push buyers to seek new countries for sourcing the product.

Export Prices

In 2020, the average peach and nectarine export price amounted to $1,484 per tonne, growing by 43% against the previous year. This resulted from a shortage in supplies due to poor yields. As a result, export price attained the peak level and is may keep at this level if weather conditions remain adverse in 2021.

Prices varied noticeably by the country of destination; the country with the highest price was Switzerland ($2,086 per tonne), while the average price for exports to Portugal ($1,053 per tonne) was amongst the lowest.

Source: IndexBox Platform