China: Lower stock of apples in cold storage this year
According to the latest findings, the price of grade 1 and grade 2 size 80 Fuji apples in Yantai starts at around 3.0 yuan, up by 7% compared to last November. In October, the average purchase price of size 80 Fuji apples were 3.3 yuan, up by 16%. Because of the higher prices, there's been an interesting phenomenon. If sellers are not happy with the buyer's price offer, they refuse to sell and put the apples back into storage.
The reason why farmers store apples in warehouses is that they can't sell everything when the supply is ample, or some of them are hoping that the market price will go up later. This year, most of the apples first put into storage were from the sellers with stable sales channels. In the past few years, the percentage of apples of size 80 ad 85 accounted for around 60% of the total volume in the cold storage, but this year it's been over 70% because the total volume is lower.
Source: Fruit Service Center
Publication date: 11/30/2017
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