What to Know About the Latest Trends in Berry Prices

As a business in the food industry, staying up to date on the latest pricing trends is essential for maximizing profits and making informed business decisions. Pricing is influenced by factors like labor, packaging materials, and transportation, all of which contribute to overall business expenses.

This article will look at recent patterns in berry prices, with a focus on strawberries, blueberries, raspberries, and blackberries. Understanding the price fluctuations of certain products will allow you to adapt your strategies accordingly.

We’ll also go over how Silo’s financial solutions can help businesses in the food supply chain capitalize on market trends.

The latest trends in berry prices

Let’s discuss berry market trends in terms of these parameters: average Free on Board (FOB) prices or shipping point prices, average promoted retail prices, and number of promotions.

FOB pricing means the expenses associated with the transportation of goods, including how much it costs to load, ship, insure, and unload the commodity until it reaches its final destination.

Meanwhile, average promoted retail prices refers to how the product has been priced yearly on a retail level, which can, in some cases, be indicative of either demand or rising input expenses.

Lastly, the number of promotions indicates how much the product is being focus-promoted in retail stores via sales, advertisements, and so on.

Strawberries

• Average FOB prices: The average FOB price for strawberries has shown some variation over the years, ranging from $14.48 per carton in 2018 to $17.18 per carton in 2021. In 2022, it decreased by 3% to $16.71 per carton compared to the previous year, but it still remained higher than the 2020 price of $15.82 per carton.

• Average promoted retail prices: The average promoted retail price of berries for strawberries increased slightly from $2.01 in 2021 to $2.11 in 2022, representing a 5% increase. This suggests that, during this period, retail demand increased and consumers were willing to pay a higher price for strawberries.

• Number of promotions: The number of retail promotions for strawberries decreased by 4% in 2022 compared to 2021. However, overall, the number of promotions remained relatively high, with 833,952 promotions reported in 2022.

Blueberries

• Average shipping point prices: The average shipping point price for blueberries has also experienced some fluctuations over the years, decreasing from $20.82 per carton in 2021 to $19.85 per carton in 2022, representing a 5% decline. However, it was still higher than the 2020 price of $20.04 per carton.

• Average promoted retail prices: Average promoted blueberry market prices have shown a consistent increase over the years, from $1.71 in 2020 to $1.92 in 2022. This represents a 12% increase over a three-year period.

• Number of promotions: The number of retail stores with blueberry promotions decreased from 1.05 million in 2021 to 964,054 in 2022, representing an approximate 8% decline.

Raspberries

• Average FOB prices: The average FOB price for raspberries has shown some variation over the years, ranging from $14.48 per carton in 2018 to $17.45 per carton in 2021. In 2022, the price declined significantly to $14.09 per carton, representing a 21% decrease compared to the previous year.

• Average promoted retail prices: The average promoted retail price and cost of berries for raspberries increased from $1.64 in 2021 to $1.72 in 2022, representing a 5% increase. This suggests that the retail demand and willingness to pay a higher price for raspberries increased during this period.

• Number of promotions: The number of retail stores promoting raspberries decreased from 630,702 in 2021 to 597,598 in 2022, indicating a 5% decline in promotional activities for raspberries.

Blackberries

• Average FOB prices: The average FOB price for blackberries has shown some variation over the years as well, ranging from $15.42 per carton in 2015 to $11.70 per carton in 2020. In 2022, the price increased to $13.94 per carton, representing a 4% increase compared to the previous year.

• Average promoted retail prices: The average promoted retail price of berries for blackberries increased from $1.57 in 2021 to $1.64 in 2022, representing a 4% increase. This indicates a potential increase in consumer demand.

• Number of promotions: The number of retail promotions for blackberries increased from 655,445 in 2021 to 695,390 in 2022, indicating a 6% increase in promotional blackberry activities.

Silo can help you capitalize on market trends

These insights on berry prices can be useful for determining business strategy. In other words, staying informed on the latest pricing trends is crucial for businesses to thrive in a competitive marketplace. However, that’s just one piece of the puzzle. To act on trends, you need the right amount of capital.

That’s where Silo Capital can help. Silo provides businesses with access to simple and discreet working capital so they can respond to market trends accordingly. With capital, businesses will have the necessary funds to seize opportunities and navigate market fluctuations effectively. This, in turn, allows you to get ahead of the competition and maximize profitability.

Here at Silo, we also understand the importance of leveraging the power of data, as well as its impact on making profitable business decisions. 

In addition to our financial offerings, our platform provides you with actionable insights, pulling together critical information like market trends, sales data, and inventory performance. Using Silo, you can better act on emerging market trends, identify lucrative opportunities, and adjust your business strategies accordingly.

Gain unparalleled visibility and control over your cash flow, closely monitor market trends, and make more informed financial decisions. Book a demo with Silo today!