Israeli growers hope pomegranate prices rebound
Now that Israeli growers are into good supplies of their Wonderful pomegranates, there is much compe…Now that Israeli growers are into good supplies of their Wonderful pomegranates, there is much competition for sales in Europe. But as the season progresses, Israeli exporters are hoping prices will bounce back from the doldrums that are common in October.
“Everybody has good volumes at the end of October and into November,” said Yoav Nakash of Galilee Export. “Nothing is easy and everybody is struggling when the market has too much product. Prices have hit rock bottom, but now we hope they will start to recover again.” Because the Israeli season stretches into March, they can go into markets – like the Spanish market, which wraps up in February – where local supplies dry up before then. For now, though, it's tough going in Europe.
“The European market takes about 65 percent of what we export,” said Yoav. “The big sizes, which are upwards of 750 grams, go to the Russian market and the Far East.” Demand, both in Europe and the Far East, has grown in recent years, but so has the amount of fruit available. Two years ago, Galilee Export shipped 2,500 tons of fruit, last year it was 4,000 tons, and this year Yoav estimates they will ship 6,000 tons of pomegranates. Recent rains did nothing to curtail that prodigious production.
“We're pushing the growers to work with premium sizes and premium quality so we can export,” said Yoav. “Israel doesn't import fruit, so we can sell pomegranates in the spring and early summer. But, other than that, the local market is not so good.”
Galilee export has grown to be the second largest exporter of avocado, citrus and other fruit & vegetables in Israel. "We recognize the demands of our customers and meet their expectations. Our top priority is to ensure that the customers receive high quality products. Galilee export enjoys a growth of 30% in volumes due to new plantations and many new growers that joined us during the year. Galilee Export achieved a €100 millions turnover and the volumes shall increase in the same proportions of 20% again next season."