Big supply, low demand send cranberry prices tumbling
WISCONSIN RAPIDS -- Wisconsin has long been one of the world leaders in cranberry production, but this year's enormous supply is spelling trouble for area producers.
The Milwaukee Journal-Sentinel says that the supply of cranberries in the United States and new international markets is far outpacing demand. This is causing many cranberry gorwers to sell the products for far less than the cost to produce them.
Many independent growers are hurt the most by the shift, while growers in cooperatives like Ocean Spray generally get better-than-market prices for their crop.
One of the biggest factors in the drop in prices is the recent growth of Canadian cranberry growers, especially in the province of Quebec - which has quickly grown to the third largest producer behind Wisconsin and Massachusetts.
Wisconsin currently grows more than half of all the cranberries grown around the world. the value of the crop is estimated between $175 to $200 million.