Execulytics Consulting's Mike Mauti Talks Grapefruit in November Produce Moneyball Update
TORONTO, ONTARIO, CANADA - Did Europeans in the 14th to 17th centuries know they were going through a renaissance? For example, did da Vinci introduce himself to new people by saying, “Hi, my name is Leonardo, I am a Renaissance Man”? Or did people go about their business in oblivion, not aware of the cultural and scientific discoveries happening before them? The answers to these questions will determine whether I am premature in declaring that we are in the middle of a Grapefruit Renaissance.
When venturing into a local microbrewery, it’s hard not to experience the latest concoction without tasting that distinctly bitter, citrusy grapefruit flavor. In fact, before the microbrew craze, I nearly forgot what a grapefruit tastes like. Now, because of my reintroduction, I find I am craving the real thing more and more often. Whether a coincidence with, or a result of, the multitude of ales that are reminiscent of grapefruit, we have entered a new age of taste discovery, at least in my house. So, then, what better time than now for Produce Moneyball to take a deeper look at grapefruit. It also happens to be the time of year when grapefruit shines. If you have an interest in the Renaissance Fruit, keep reading.
The accompanying graph shows 2021 volume for Florida 48 count red grapefruit. Volumes were steady throughout January with a peak in week 5 for the start of February. After that, the volume declined throughout February.
Last season, costs played in a very narrow window until the peak, ranging between $20 and $21 FOB. After the peak, the cost dropped to below $20. Produce Moneyball predicts stable costs again to start 2022, albeit at slightly higher levels than in 2021 and without the February dip. This is in part due to the five percent average annual inflation experienced since the middle of the last decade.
If you happen to be a fan of The Renaissance, keep checking with Produce Moneyball, it may just unlock the pathway to a new renaissance.
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.