The new harvest of Chinese wax apples entered the market in December, 2019. The wax apples enter the market around the same time as large volumes of apples but since the texture and flavor of wax apples are characteristic and unique, many consumers flock to the market to purchase wax apples.
Mr. Rain from Hainan Wushen Ecological Agricultural Development Co., Ltd., an official retailer of "Mykio" fruit in China, recently shared his opinion on the current conditions in the Chinese wax apple market. "Black Iron wax apples from Hainan Island entered the Chinese market in December, 2019. In previous years, Hainan wax apples began to enter the market in late October, but weather conditions delayed the wax apple harvest for more than a month this year. The main reasons that the harvest season lags behind are high temperatures and excessive rainfall during the blossom season last year. That is why the new wax apple season did not start until December. The wax apple production volume shows a slight peak in the period leading up to Chinese Spring Festival [25 January, 2020]. After Spring Festival, the overall production volume will likely maintain the same level as in previous years. When the conditions are regular, then the peak season of Hainan wax apple production will begin in March and continue until June."
"The price of wax apples was relatively high in early December, 2019. However, towards the end of December, when Hainan wax apples began to enter the market in larger volumes, the balance between supply and demand was disturbed, and the price rapidly declined. More recently the wax apple market has begun to warm up again. The purchase price in production areas is recovering. The current retail price of wax apples is around 30-40 yuan [4.32-5.75 USD] per 0.5 kg. Top-quality wax apples sell for as much as 50-60 yuan [7.19-8.63 USD] per 0.5 kg."
"At this time of year, the Chinese fruit market has a wide variety of fruit on offer, but this has very little impact on the sales of wax apples. The overall production volume of wax apples is relatively small and the consumer audience is stable. Loyal customers include exercise specialists, beauty experts, children, smokers, and city people protecting themselves from industrial smog. These high-end customers adore wax apples and will therefore continue to buy them. For example, Beijing and other large cities in the north have entered the winter season. People are all inside with the heaters on. The air is therefore dry and people need to hydrate themselves. This is the time of year when wax apple sales go up, because wax apples help hydrate the body and keep the airways moist. There is a Chinese saying that goes, one wax apple is worth six cups of water!"
Mr. Rain also explained that up until now the wax apple is still a small-volume tropical fruit. The main markets are in such core cities as Beijing, Shanghai, Shenzhen, and Hangzhou. However, consumers begin to pay more attention to healthy foods and as the news spreads, wax apples gradually enter more markets in first- and second-tier cities throughout China. There is huge market potential.
"Mykio owns wax apple plantations in Hainan and cooperates with local farmers. The overall surface area of their plantations exceeds 133 hectares. At the same time, Mykio also has wax apple plantations in Taiwan and Vietnam to complement the production of wax apples during the low season in Hainan. Mykio mainly targets the Yangzi River Delta markets, but the brand is available in first-tier cities throughout China. Our clients include fresh produce chain stores, e-commerce platforms, community stores, and premium-fruit stands in wholesale markets. In 2020, Mykio will continue to develop current B2B supply services, and at the same time the brand will strengthen development in the industry."
For more information:
Hainan Wushen Ecological Agricultural Development Co., Ltd.
Tel.: +86 158 2192 1811