Date: April 5, 2024

A wet winter in Chile resulted in various farm areas experiencing flooding that has reduced production, and may also be responsible for the presence of worms from fruit flies in the Chilean harvest. This keeps prices consistently high across the market for blackberries. As the “worm issue” mirrors a similar occurrence in Serbia with blackberries where worms have left buys unwilling to purchase product with worms. Consequently, processors have been compelled to implement rigorous quality checks on raw materials.

Due to limited supply, Chilean processors find themselves unable to reduce prices for wild blackberries. However, a growing number of market participants are transitioning to cultivated blackberries whenever possible due to their lower costs and the heightened safety and quality standards in place.

Lakeside Food Sales Inc is a bulk food ingredient supplier and distributor which supplies and distributes frozen cultivated blackberries. Due to many of our products being Food and Agricultural Commodities, we closely monitor various reports offered by product manufacturers and data, analytics and climate conditions that are released by various world organizations. This data often provides insights into pricing for raw material for raw food ingredients that we supply to clients.

The content and viewpoints shared in this presentation were crafted by Lakeside Food Sales Inc. It contains forward-looking statements grounded in anticipated future events, yet remains subject to risks and uncertainties. Lakeside Food Sales, Inc. does not guarantee the accuracy of the content shared within, as this data was derived from various reports and briefings published by one or more industry resource and/or government agencies or world organizations.