Expana launches 10 US Fruit and Vegetable Expana Benchmark Prices

Expana has launched 10 new monthly Expana Benchmark Prices (EBP) for the North American IQF markets covering blueberries, peaches, green beans, and peas.

The initial proposal was announced in a market note published on October 1, 2024, which can be viewed here and the decision note to go ahead with the assessments was published on November 7, 2024, and can be viewed here. The specifications for the assessments are as below:

The assessments reflect the transactable value at 16:00:00 US Eastern Time. Please note that due to the US Thanksgiving holiday, the initial November 2024 assessments will instead be published as per the Americas assessment methodology using the transactable value as at 13:00:00 US Eastern Time on Wednesday, November 27th. From December 2024, the normal schedule of 16:00:00 US ET on the last business day of the month will apply.

The new assessments complement Expana’s existing coverage for the North American IQF markets and cover commonly traded produce items in the category.

In 2022, the US market for IQF vegetables was worth $479.5 million, and is projected to reach $549.7 million by 2033.

The IQF peach market is projected to reach $1.4 billion by 2031 and the global IQF blueberry market is expected to grow to $4.15 billion by 2029. A notable trend in the IQF fruit market is the growing focus on product diversification, driven by increasing demand. In 2023, North America led the market, capturing the largest revenue share and highlighting its key role in the sector.

The global frozen green pea market is expected to experience steady growth over the forecast period, projecting a to grow from USD 8.4 billion in 2023 to USD 10.5 billion by 2032.

The IQF green bean market is fueled by rising demand for frozen vegetables, which are valued for their convenience, extended shelf life, and nutritional benefits.

These new launches introduce additional, independent, and reliable benchmarks for commonly traded items within this category. These initiatives will provide stakeholders with more independent benchmarks for frequently traded items in the IQF category.

If you have any questions or feedback on this launch note, please send it to [email protected] and clearly state which market note your comments relate to, and if comments are intended for publication by Expana. Expana will acknowledge receipt of all comments by email.