Oversupply in Chinese jujube market led to slowing sales

The recent sales of winter jujube have slowed down and prices are struggling to pick up. Prices in some markets have remained stable but at a low level.

There are a few factors that contribute to the current market situation. First of all, the supply exceeds the market demand. Secondly, with the increasing volume on the market, traders of storage jujubes are under great pressure. Coupled with the pressure from buyers, some traders no longer insist on higher prices; some have even been offering their product at low prices in order to clear volumes.

Moreover, there are now more supply sources in the market and the options for buyers have increased. Coupled with a lack of confidence in the market outlook, buyers are not enthusiastic in making purchases and most are only buying what they can sell, resulting in a slowing market. At the same time, the new crop from the new season will leave the market in less than two months. Before this happens, most of the traders of storage jujubes will clear their stock, so buyers who are hoping to get products during the clearance are cautiously replenishing their stock and waiting for the market to develop.

In general, as the temperature drops, the market demand for winter dates has increased. However, judging from the current sales volume, the Mid-Autumn Festival did not achieve the expected boost - the remaining stock in various markets is still large and prices are also weak. In the next few weeks, if there are no positive factors, the market will remain under pressure and stay at the current level; but if the market supply continues to increase, the risk of a decline in prices cannot be ruled out.

Source: zao7.com


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