Price of Chinese sugar tangerines plummeting

Jinqiu sugar tangerines have been on the market for more than half a month. Now, in some production areas, where the crop has been ordered early or who have limited production, harvest has completed. In the meantime, the price of products from the rest of the production areas mostly depends on quality, with remarkable differences between good and bad quality supply.

Last month, when the Jinqiu sugar tangerines became available on the market, traders rushed to purchase, pushing the farm-gate price up to 5 yuan per half a kilo, though it didn't last long. From November, products from many other production areas poured into the market, leading to prices plummeting.

Traders revealed that the crop this year tastes watery and average. High-quality large fruit from Wuming is being ordered at 3 yuan/half a kilo. Prices of small and ungraded fruit are stable. This is in fact normal, as Jinqiu became available early in the market in previous years, facing no competitors, and the production was not large, so it enjoyed good prices throughout its marketed period. Now that the product is marketed at 3 yuan per half a kilo, growers naturally are unwilling to sell it. However, this year is different from previous years and it’s not easy to maintain the previous high prices.

In previous years, Jinqiu sugar tangerines fetched very good prices, and it was normal reach three to four yuan per half a kilo. However, the citrus market this year is generally not optimistic. The prices of both early tangerines and Nanfeng mandarins are quite low. This unfavorable start has affected the Jinqiu sugar tangerines. This year, it is expected that the crop in early tangerine production area will begin to ripen and go on the market in mid-to-late November. As the Chinese New Year will arrive on February 11, there will be a sufficient sales window prior to the holiday and it will be beneficial to the sales.

Although the price of sugar tangerines this year is not as high as before, the sales window of this product happens overlap with the Spring Festival, which is beneficial to driving consumption. Therefore, prices may still stay around two yuan per half a kilo, though during the peak sales season prices may temporarily drop to over one year per half a kilo. In addition, affected by Covid-19, consumers don’t have money in their pockets and their demand for fruits has fallen - they prefer cheaper fruits and their consumption levels have decreased.

Source: iFreshFair

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