Chinese apple buyers wary as prices continue to fall

The Chinese apple harvest was abundant this year, but the number of buyers is smaller. What are the reasons for this development?

1. Last year, many traders immediately bought apples when the price was right and they stored them. This year the buyers do not dare to buy as they see fit.

2. The apple supply volume is excessive. Apple buyers do not wish to gamble on the price of apples in a year of abundance and prefer to wait and see how the price develops.

The price of apples was not bad when the season started, but continued to drop as the season progressed. The apple production volume is large and consumers are not eating as many apples as before. Even though the price dropped, buyers were still careful and did not buy large volumes. Buyers are afraid to be stuck with apples they can not sell. So they wait and see how the market develops.

3. The apple export volume will also decline.

China exported more than 1.3 million tons of apples every year until last year. This year, however, other apple producing countries enjoyed an abundant harvest as well and the market prospects for apple exports is therefore not ideal. Buyers are afraid that they will not be able to export the apples they buy, so they wait and see.

4. The number of online shops grows every year. Buyers in production areas are afraid they will lose customers to online shops and then will be left with the apples they bought.

Source: Baijiahao Youran Jian Dongshan [Leisurely Watching East Mountain] 

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