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Chinese apple market passed its peak

Starting with early Gala, the prices of apples this season have been rising nonstop, especially in the later purchasing season. The late Fuji market became even higher - size-70# Fujis from Gansu were marketed at more than 4 yuan per half a kilo. In the Penglai area of ​​Shandong, grade-A apples with seizes above 85# also fetched a high price of 7.3 yuan per half a kilo.

Although exports are poor this year, e-commerce has broadened sales channels and greatly drove up the price. High prices seen this year are mainly a result of the significantly lower production in the northwest producing areas, which has led buyers to compete for supplies and make orders whenever there’s supply available. The high prices in Northwest China drove up the apple market across China. On the other hand, the quality of this year's crop is not as good as last year - the size is small, there are many cases of spots caused by hails and apple rust, leading to a scarcity of high quality supply. In addition, sales during the National Day and Mid-Autumn Festival holidays were good. Some futures dealers went directly to the place of origin to purchase goods, which also boosted purchasing prices.

It is estimated that we have now passed the pricing peak this year and prices are likely to fall in the coming months. There are a few reasons for prices to fall. First of all, large volumes of apples from various origins, whether of good or poor quality, are flooding onto the market, impacting the market price system. As a result, good quality products will not be sold and poor quality products will be marketed at reduced prices. Secondly, at present, good products in the production areas have almost all been ordered, and the remaining products are mainly average grades. As the quality is not as good as before, the order price will be lower. Moreover, we are now less than a week from Frost's Descent, around which time apples must be put into storage, so the time left for growers to sell their crop is limited.

Source: Fruit Industry Information Network


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