India's Mango and Mangosteen Prices Rises to $1,371 per Ton

India Mango and Mangosteen Export Price in November 2022

In November 2022, the mango and mangosteen price stood at $1,371 per ton (FOB, India), increasing by 3.6% against the previous month. Over the period under review, export price indicated a temperate expansion from January 2022 to November 2022: its price increased at an average monthly rate of +3.6% over the last ten months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2022 figures, mango and mangosteen export price increased by +24.4% against July 2022 indices. The most prominent rate of growth was recorded in April 2022 an increase of 29% month-to-month. As a result, the export price reached the peak level of $1,562 per ton. From May 2022 to November 2022, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Russia ($2,225 per ton), while the average price for exports to Indonesia ($537 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

India Mango and Mangosteen Exports

In November 2022, overseas shipments of mangoes, mangosteens and guavas decreased by -9% to 12K tons, falling for the third consecutive month after two months of growth. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 with an increase of 27% month-to-month. The exports peaked at 21K tons in August 2022; however, from September 2022 to November 2022, the exports failed to regain momentum.

In value terms, mango and mangosteen exports dropped to $16M (IndexBox estimates) in November 2022. Over the period under review, exports, however, showed a notable increase. The most prominent rate of growth was recorded in April 2022 with an increase of 43% against the previous month. The exports peaked at 28K tons in August 2022; however, from September 2022 to November 2022, the exports failed to regain momentum.

India Mango and Mangosteen Exports by Country

Saudi Arabia (2.8K tons) was the main destination for mango and mangosteen exports from India, accounting for a 24% share of total exports. Moreover, mango and mangosteen exports to Saudi Arabia exceeded the volume sent to the second major destination, Kuwait (1.2K tons), twofold. The United Arab Emirates (1.1K tons) ranked third in terms of total exports with a 9.5% share.

From January 2022 to November 2022, the average monthly rate of growth in terms of volume to Saudi Arabia amounted to +7.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Kuwait (+6.8% per month) and the United Arab Emirates (+10.5% per month).

In value terms, Saudi Arabia ($3.5M) remains the key foreign market for mango and mangosteen exports from India, comprising 22% of total exports. The second position in the ranking was taken by the United Arab Emirates ($1.5M), with a 9.5% share of total exports. It was followed by Russia, with an 8.9% share.

From January 2022 to November 2022, the average monthly growth rate of value to Saudi Arabia amounted to +13.7%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United Arab Emirates (+11.9% per month) and Russia (+27.9% per month).

Factors Driving the Rise in Mango and Mangosteen Prices

Mango and mangosteen are two popular tropical fruits grown and consumed in India. The demand for these fruits has been rising in India and globally, which is the contributing factor to the price growth. The increasing demand is due to the health benefits associated with the fruits, including the presence of antioxidants, vitamins, and minerals. As a result, more people are willing to pay a premium for these fruits, leading to an increase in prices.

One of the primary reasons for the rise in price is the seasonal nature of the fruits. Mangoes and mangosteen are harvested only during specific times of the year, and any disruption to the supply chain can impact the availability and price of the fruits. Extreme weather conditions such as droughts, floods, or storms can also affect the quality and quantity of the fruits, leading to higher prices.

Another significant factor behind the increase in mango and mangosteen prices is transportation costs. These fruits are mostly grown in specific regions of India, and transportation costs from these areas to the cities can significantly increase the final price of the fruits. Fuel prices and road infrastructure can also affect the transportation costs, leading to fluctuations in prices.

Lastly, domestic and international economic conditions can also play a role in the price of mango and mangosteen in India. The exchange rate of the Indian Rupee, inflation rates, and trade policies can impact the cost of production and the final price of the fruits.

Source: IndexBox Market Intelligence Platform