Price of crown pears from Heibei plummets

Fruit prices have been rising sharply in 2019, with apples and pears leading the way. However, in recent days, crown pears from Hebei have been facing a difficult market, even risking slow sales. This fruit flowers every April, with early crop harvested in mid or late July. The majority of the crop ripens in mid-August. Pear prices soared in the first half of this year, but those of early crown pears have dropped sharply recently. 

In the 2017/18 season, growers had a record bumper harvest due to favorable weather conditions and a significant reduction in pests and diseases. Purchasers easily stockpiled large volumes at low prices, but after the fruit was in storage, prices remained at the same level and even started to fall.

The stock has been stored in refrigerated storage for over 10 months, resulted in high costs. The huge stock volume and difficult market conditions are the last straw for purchasers. They began to sell in large volumes, leading prices to plummet. Extreme weather conditions such as heavy snow and hailing in April and July 2018 also resulted in a 30-50% reduction in 2018 pear production.

Purchasers who made large purchases last season were eventually forced to sell at low prices, resulting in serious losses. This has prevented them from making more purchases. On the other hand, it is currently the harvest period for early crown pears when they are picked and put into storage. Growers were still worried about the slow sales they experienced last season, and are more willing to sell. With the increased supply and weekended demand, it is not surprising that prices have been dropping in the short term.

Source: Wanguo Fengyunhui

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