The Mexican jalapeno market is facing substantial challenges due to prolonged adverse climatic conditions, notably the extended El Niño effect into 2024, alongside abnormal regional rainfall and fluctuating Pacific sea surface temperatures.
- Extended El Niño Effect: The El Niño phenomenon is anticipated to persist through the first half of 2024, bringing abnormal rainfall across Latin America and raising agricultural concerns.
- Pacific Sea Surface Temperatures: Recent surges in Pacific sea surface temperatures, especially along the South American coast, could exacerbate regional climatic adversities.
- Regional Rainfall Disparities: Forecasts for Q1 2024 indicate more rain than usual in some regions, including Mexico, while others continue to experience dry conditions, potentially impacting jalapeno cultivation.
- Crop Yield Disparities: Our suppliers, alongside a Peruvian manufacturer, reported diminished jalapeno yields due to extreme temperatures, hinting at a broader market tightness.