The Chinese fruit market has not been doing well since the outbreak of Covid-19 earlier this year. However, one fruit stands out with an exceptionally high price. That is the pomegranate. The price has already reached 9 yuan [1.30 USD] per 0.5 kg and the pomegranates are selling well. The price is many times higher than last year.
The pomegranate is a commonly seen fruit in the Chinese market. The color of this fruit is red like rubies. Not only is the fruit sweet and sour and juicy, but the pomegranate also contains twice the amount of vitamins as apples or pears. That is why consumers love the pomegranate. And that is why the overall production volume is steadily growing.
The price difference with last year is huge. Last year, top-quality pomegranate sold for as much as 3 yuan [0.43 USD] per 0.5 kg. Smaller pomegranates with seeds even sold for less than 2 yuan [0.29 USD] per 0.5 kg. Pomegranate farmers were barely able to make a living.
The main reason for the low price last year was the huge production volume. Market supply far exceeded consumer demand. Farmers were forced to reduce their prices. In addition, new pomegranate varieties had not yet opened up the market. Their production volumes and sales volumes were limited. The market conditions last year did not help developments in the pomegranate industry.