Execulytics Consulting's Mike Mauti Examines Pomegranate Market
TORONTO, ONTARIO, CANADA - There is something intriguing about pomegranates. Whenever I ask someone older than a millennial about their childhood memories of pomegranates, they almost always give me a blank stare. But when I ask about other fruit like cherries, peaches, or watermelon, I hear stories filled with joy and laughter, seemingly centered around a key fruit that made up an important part of their childhood. I must admit, I, too, only had a passing relationship with pomegranates in my early years.
What adds to the pomegranate intrigue is their frequent appearance in many big screen and television dramas depicting ancient civilizations like Rome or Egypt. It is clear (if you believe what you see on TV) that pomegranates have a rich history. In fact, they have been cultivated in the Mediterranean region, South Asia, and the Middle East for thousands of years and have even been grown in California for over 250 years.
Since pomegranates have been around for millennia and were favored by the founders of the New World, who themselves have been growing them here for centuries, it begs the question, "Why have they become a big thing only in the last 20 years?" Marketers of obscure fruits take note, pomegranates may provide the blueprint for success you’ve been looking for. Just do what pomegranates did and reap the rewards, maybe.
While we wait for feijoas, loquats, or rambutan to become the next big thing, Produce Moneyball will take a closer look at pomegranates, the current big thing. As revealed in the accompanying graphic, pomegranates hit a peak at the end of October in week 43. Given their heartiness and affinity for eye-popping displays, they peak a couple weeks before United States Thanksgiving in week 47 to allow merchants to do their thing in store.
Last season, FOB costs increased up to the peak and kept on increasing through the end of November. This year, Produce Moneyball predicts a more stable FOB cost that stays within a couple bucks higher or lower than $40.
Keep your eye on Produce Moneyball as we keep you abreast of the next ancient wonder to reappear on our modern radar.
Mike Mauti, Managing Partner, Execulytics Consulting
Leading the Execulytics team, Mike brings more than 20 years of experience as a leader in the fresh foods industry. Over this time, Mike has gained expertise in retail operations, procurement, and merchandising. Specific skills around grocery retailing, particularly in produce buying and selling, make Mike a valuable partner for suppliers and independent retailers alike.