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Cherry becomes no.1 selling fruit before Chinese New Year

Recently, fruit sales have entered a peak in wholesale markets in China. This year, due to the early arrival of the Chinese New Year, the market price of cherries is lower as supply is flooding into the market. The sales volume of cherries tops the chart, replacing popular fruit gift box choices of apple, pear, and orange that dominated the market for many years.

Industry insiders explained that cherry prices this year are more affordable compared with previous years, so it is not surprising that they have become a popular fruit for the Spring Festival. It is reported that the wholesale price has dropped by 5-8% compared with the same period last year. The average price in the wholesale market currently ranges from 30 yuan to 50 yuan.

Will fruit prices rise further before the holiday? Industry analysts expect the increase for cherries to be insignificant. Cherries usually enter the off-season after the Spring Festival, and with the early arrival of the New Year this year, importers are hoping to seize the pre-holiday sales window and import as many as possible. The supply before the holiday is supple and stable, so prices aren’t expected to rise by more than 5%.

The outlook of the fruit market as a whole shows that although the average price is higher than last week, it is much lower than last year. Apple prices, in particular, have fallen by as much as 20%. In addition, although the price of shatang mandarins has risen over the past two days, it is still lower than last year.

Source: Jiangnan Evening News

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