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China: Henan Wanbang Market: passion fruit prices rising
This week, the passion fruit price has been rising. The price was 7.5 yuan per kilogram, compared to 6.5 yuan last week, 6.0 yuan last month, and 7.0 yuan last year. These are increases of respectively 15.38%, 25% and 7.14%. According to traders, as the end of the year is nearing, the passion fruit demand will increase, and the price will continue to rise.
The passion fruits on the Wanbang Market are mostly from Guangxi, Vietnam and Laos. There are two main reasons for this rise in price.
Firstly, natural disasters have led to a drop in the Chinese passion fruit production. According to traders, there has been sleet in Guangxi from 5 until 8 January. Because of that, a large part of the passion fruit production has suffered from frost damage. The passion fruits on the market are mostly imported from Vietnam, and some smaller quantities are from Laos as well.
Secondly, there has been an increase in the transportation costs. As the production has dropped, traders have to go to Vietnam or Laos for products, which is much further. This increase in costs has now led to a rise in price.
Source: Primary Industry Network
Publication date: 1/26/2018
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