Chinese Ministry of Commerce: Fruit prices expected to drop

Fruit prices are expected to drop to a reasonable range after the recent price hikes, thanks to the rising temperature and an increasing supply of seasonal fruits, the Chinese Ministry of Commerce said this Wednesday.

On Tuesday, certain kinds of cherry, watermelon and litchi in the Beijing Xinfadi wholesale market saw their prices drop by more than 40 percent, compared with their prices from the beginning of May.

According to the ministry, prices of apple and pear which suffer more from the impact of short-term changes in supply and demand and weather conditions, are expected to return to a reasonable range with seasonal fruits going on sale in the market.

As the largest fruit producing and consuming country, China produced 257 million tons of fruit and imported about 5.53 million tons in 2018, the ministry said, according to an article on xinhuanet.com. It will continue to strengthen market monitoring to guarantee market supply of fruit, vegetables and other necessities, the ministry added.


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