China: Red flesh pomelo prices plummet

Over recent years, fruit prices in China have been fluctuating significantly. While a specific fruit may fetch skyrocketing prices one year, it may suffer from slow sales the next. One such fruit is red flesh pomelo. It is reported that the wholesale price of this fruit is about 0.7 yuan per half a kilo. Farmers are forced to sell at low prices to reduce losses.

A pomelo used to cost more than 20 yuan, making it a premium fruit. Now, prices in many supermarkets in Fujian are at 3-3.5 yuan/half a kilo, much lower than in previous years. Lower prices naturally attract more buyers, but due to the overly large supply this year, the wholesale price cannot escape from the slump no matter how many purchases are made by consumers.

The plummeting pomelo prices his year have a direct link with production. As prices have been good in recent years and many farmers have made money from pomelos, other farmers followed suit. With the growing number of farmers, prices have also been declining year by year. This year's plummeting prices have been expected by many farmers.

Source: Baidu News

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