Chinese Spring Festival [February 5th, 2019] arrives in less than a week. Fruit is a common gift among Chinese during the last weeks of the lunar calendar. This seasonal increase in consumer demand results in one of the busiest trading periods in fruit markets in the entire year. Even though the price is soaring, the sales volume continues to grow. The average price in Shanghai Huizhan Fruit Market recently increased by 20%-30%.
The price of cherries increases every day. The current price is around 480 yuan [71.64 USD] per 5 kg box, wich is 40 yuan [5.97 USD] more than yesterday. One manager in the market explained that the cherries shipped by sea experienced delays, which drives up the price. And despite soaring prices, the trade volume still grows.
Source: iFresh Fair