China: Domestic apple production fell by 40%-50% this year

Relevant data shows that apple production decreased by 40%-50% this year as a result of unexpected cold weather in early April when the apple trees were in bloom. As for current market conditions, apple traders are emptying their storage and many production areas near the end of trade season, which means that the anticipated decrease in production volume does not yet have a great impact on the price of apples. Nationwide data for wholesale market prices show that the wholesale price of apples has been stable since the cold weather in early April.

Apple farmers do not expect the apple price to greatly increase in 2018/19. They expect a price rise of 1 yuan [0.15 USD] per 0.5 kg, which is an increase of 30%-50% in comparison with the same period in the previous year. Apple farmers are normally only able to passively react to apple prices. The expected price increase is therefore between 0.5 and 1 yuan [0.08-0.15 USD] in October, although the price will further increase later in the season when traders run out of refrigerated storage.

Source: Fruit Service Center

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