In the first quarter of 2024, mango prices experienced a continuous decline, with the downward trend intensifying each month. Hainan, the primary mango-producing region, holds a pivotal position, followed by Guangxi. Mangoes from Hainan typically reach the market earlier than those from Guangxi due to differences in ripening times. In the first quarter, unusually high temperatures accelerated the ripening process, leading to an earlier-than-usual harvest. Consequently, fruit farmers faced heightened sales pressure, prompting them to offer their produce at lower prices. As a result, mango prices remained below those of the previous year during the same period.
More specifically, mango prices plummeted by 17.83% and 18.22% in January and February, respectively. In March, the influx of mangoes from Guangxi further bolstered market supply, causing prices to nosedive by an additional 29.22%.
Regarding key varieties, both Shuixian and Xiaotainong mangoes witnessed consistent year-on-year price declines, with the downward trajectory steadily worsening. In March, escalating quantities of ripe fruit compounded sales pressures compared to the previous year, resulting in further price reductions for these varieties. The year-on-year price drops for Xiaotainong and Shuixian mangoes expanded to 24.08% and 34.77%, respectively.
Source: Jiaxing Fruit Market