Fruit and Tree Nuts Outlook: September 2020
January through July Consumer Price Index Down from a Year Ago
The 2020/21 marketing year is already underway for many noncitrus fruit crops. The USDA National Agricultural Statistics Service (NASS) forecast apple, peach, and cherry (sweet and tart) production down while table grape, cranberry, and pear production are expected to increase. The U.S. tree nut industry is forecast to have record-high almond, walnut, and hazelnut crops for 2020/21. Declining production is forecast for all citrus fruit in the 2020/21 season. Growers face uncertainty with the impact of the COVID-19 pandemic on 2020 prices. For January to July 2020, the Consumer Price Index (CPI) for fresh fruit was down from the same period last year, perhaps the result of more supplies directed to retail from the food service industry; some declining exports during the shut-down; tariffs in top export markets; and changing consumer behavior. August CPI for fresh fruit increased, up 1.5 percent from the previous August.
See the Fruit and Tree Nuts Outlook.