Cranberry concentrate prices hit new lows
In advance of its next online auction for the sale of cranberry concentrate on July 28, Ocean Spray argues that now is a great time for manufacturers to start formulating with cranberry.
Kristen Borsari, director of marketing at Ocean Spray, told BeverageDaily.com that cranberry prices have fallen to levels comparable to previous historic lows.
Thanks to two bumper harvests, Ocean Spray claims that now is a good time to participate in its online auction for cranberry concentrate.
Bidders will be able to contract for cranberry concentrate at fixed prices for extended periods of time. Borsari said this means that beverage manufacturers can secure future cranberry supply at low prices.
Ocean Spray launched its quarterly auctions for cranberry concentrate in 2009. Run by CRA International, Borsari said the online trading platform is a transparent way of reaching the market clearing price and gives companies the opportunity to reduce exposure to short term fluctuations.
More information about the auction process and cranberry ingredients will be available from the Ocean Spray stand at our Drinks Ingredients 2010 Virtual Conference and Expo on May 27. Ocean Spray said attendees will be able see short videos, download information, and chat to its staff at the virtual booth. To register for the virtual conference and trade show, please click here.