Jackfruit Prices Explained
Jackfruit prices continuously gain momentum in the global market as an affordable and sustainable meat alternative.
For example, the fast-casual restaurant chain Smashburger with locations in New York, New Jersey, and Colorado started rolling out its Classic Smash Burger made with jackfruit patty.
Thus, this plant-based food production approach opens great potential for this commodity in the international market.
Why are jackfruit prices fluctuating?
1. Market Competition
It’s an indication of how closely buyers and sellers compete with one another, thus, a major factor in jackfruit prices. Increased competition in the market leads to lower jackfruit prices by reducing the ability to compromise both buyers and suppliers.
On the other hand, lower market competition provides sellers and buyers with more options and increased bargaining power, leading to higher jackfruit prices.
2. Transportation Costs
The price of jackfruit is largely influenced by transportation costs, a factor particularly relevant due to the large and heavy nature of the fruit.
For instance, jackfruit transportation expenses are dependent on several variables such as fuel prices, distance traveled, and mode of shipment.
Additionally, increased transportation expenses for jackfruit result from longer transit distances, more expensive modes, and higher fuel prices, which in turn affect jackfruit’s market price.
3. Weather Condition
Climate is a major factor in the production and quality of jackfruit, with extreme weather events such as heat waves, storms, floods, and droughts that are harmful both to the condition of the trees and their fruit yield.
For example, a string of typhoons that hit the Philippines in 2020 harmed jackfruit production in some areas. As a result, the decreased supply fueled the rise of domestic jackfruit prices.
The market price of jackfruit is directly influenced by its quality, with superior attributes such as freshness, size, and taste contributing to higher demand among consumers.
Jackfruit with lower quality, identified by smaller size, less flavor, or rotting signs, usually has a lower market value and is therefore less expensive.
Conversely, high-quality jackfruits are relatively expensive in the market.
Which variables impact the price of jackfruit?
- Market competition
- Transportation Costs
- Weather Condition
- Supply and Demand
- Pests and Diseases
- Global and Economic Factors
Where does jackfruit come from?
Jackfruit is a member of the fig, mulberry, and breadfruit families.
Additionally, this exotic fruit is grown widely in India, Bangladesh, Sri Lanka, the rainforests of the Philippines, Indonesia, Malaysia, and Australia. Here are some popular types of jackfruit:
1. Cheena Jackfruit – This variety has a deep orange color, is fibrous, and very sweet. It’s small, narrow in shape, and weighs about 5 pounds.
2. Golden Nugget Jackfruit – Its flesh is bright yellow, smooth, and tastes buttery. Additionally, it has a round shape and weighs about 13 pounds.
3. Chirappuram Cluster Jack – It has a firm and crunchy flesh that is light yellow. Moreover, it is one of the sweetest types of jackfruit that grows in clusters of 6 to 8 fruits, each weighing about 5.5 pounds.
4. Golden Pillow Jackfruit – This Thai variety is large and round in shape. Additionally, it weighs between 3 to 6 kilograms and has a green skin with blunt spikes.
5. Honey Gold Jackfruit – An Australian variety that has a strong and aromatic flavor. It has dark yellow skin and deep orange flesh, weighing between 4 to 6 kilograms.
6. Lemon Gold Jackfruit – A small to medium-sized variety that weighs around 6 kilograms. Moreover, it has yellow skin and a bright yellow flesh that has a lemony flavor.
7. Black Gold Jackfruit – It has bright yellow skin and dark orange flesh that is soft and sweet with a rich flavor. This is a medium-sized variety that weighs around 10 kilograms.
What are the uses of jackfruit?
Jackfruit has become a significant and versatile fruit with various culinary uses in many cultures worldwide. Also, it is harvested at different seasons.
Additionally, this tropical fruit has several industrial uses. Some of the possible uses of jackfruit and its byproducts are:
1. Bio-oil or fuels – Making bio-oil from leftover jackfruit peels provides a sustainable and environmentally beneficial energy source.
2. Animal feed – The nutritious peel and seeds of jackfruit are employed as valuable animal feed. While jackfruit seeds are a good source of starch, protein, and oil, jackfruit peel is high in crude fiber, crude protein, and minerals.
3. Bakery products – The conversion of jackfruit seeds into flour presents an opportunity to create versatile ingredients for a range of bakery products such as bread, cake, cookies, and muffins.
Due to its high nutritional content, jackfruit seed flour can improve the taste, texture, and shelf life of a variety of baked goods.
4. Pharmaceuticals and beauty aids – Jackfruit possesses numerous medicinal and cosmetic attributes such as antioxidant, anti-inflammatory, antibacterial, antifungal, antidiabetic, anticancer, and wound healing properties
Additionally, its extracts, oils, creams, lotions, and masks are used to treat a variety of ailments or enhance the condition of the skin and hair.
5. Absorbent – Jackfruit peel is a suitable material for absorption because of its high porosity and surface area.
What is the future price of jackfruit?
The global market price for jackfruit is on the rise due to its increasing consumption as an alternative to meat, driven by its texture similarity to certain meat products.
Additionally, the growing preference for veganism and the rising number of vegetarians are contributing to this trend.
Moreover, the market demand for jackfruit is propelled by increasing awareness of its health benefits, including controlled cholesterol levels, blood pressure regulation, cancer risk reduction, and wound healing properties.
Therefore, the estimated average price of jackfruit is $0.64 per kilogram in 2028.