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Apple market fraught with oversupply and low demand

China: Fuji apple prices take hit

Statistics of the Bureau of Forestry in Henan Province show that the total apple plant area in the province covers 240,857 hectares with a production volume of 3,457,300 tons annually. 60% of apple trees produce Fuji apples, of which the price has dropped by 30% to 50%.

Because the costs of fertilizers and packaging continues to rise, farmers are loosing money. It is estimated that the income of fruit growers in the province has been reduced by 4 billion Yuan (€0.6 billion).

Main reasons for the low prices are oversupply on the market weak demand. 2013 was a small harvest and as a result apple prices started to climb. This trend continued in 2014, during which apple prices increased by almost 40%. As a result, farmers started to store the apple crop. The stored apples together with the crop coming on the markets is leading to a price decrease since June.

Export of apples has also decreased, whereas imports have increased, adding to the supply problem.

Source: China Organic Agriculture News

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