Prices fall as low as 0.5 yuan [0.07 USD] per 0.5 kg

Price of Chinese apples from storage quickly drops

The Chinese apple reserve reached its largest size last year. In addition, the supply of apples from refrigerated warehouses has been slow this year since the outbreak of Covid-19. There have been reports from various places where apples became unmarketable. Only in April did the unmarketable apples suddenly sell well, as a result of speculation and poor weather conditions in apple production areas. For a while the price of apples increased. Still, farmers were hesitant to sell their stock. The apple reserves are still huge, especially in Shandong.

The first harvest of early-season apples already begins in July. They compete directly with apples from refrigerated storage. The price of apples from refrigerated storage immediately dropped by 0.5-1 yuan [0.07-0.14 USD] per 0.5 kg when fresh apples entered the market. The arrival of fresh apples puts enormous pressure on apples in storage. Furthermore, the product quality of apples in storage is not great because the apples were harvested relatively late in the season. Many apples suffer from spots or moldy core. Even farmers who already dropped their prices to 0.6 yuan [0.09 USD] per 0.5 kg find it difficult to sell their apples

The average price of Chinese fruit is low this year and the supply speed is slow. The economy is not doing well this year, according to some specialists. Others say that the current market offers Chinese consumers a wide variety of cheap fruits, which has its effect on the sales of apples. Regardless, the refrigerated warehouses are still full of apples, which has a huge impact on the market price of apples. Furthermore, the price of early-season apples is not rising at all, which is an indication of the price prospects for red Fuji apples later this season. Apple farmers will have a difficult year ahead.

Source: guoye.sn.cn


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