This week, prices are dropping for plums marketed at the Henan Wanbang International Market. According to the Market, there are a few reasons for this:
Firstly, supplies of plums are very large. Plums available at the market this week come from various origins, mainly Dalian, Dandong, Guangdong, and Nanyang. According to sellers at the market, a large number of plums have become available this week, resulting in oversupply, driving prices downwards.
Secondly, the weather is very hot. The continuous high temperatures this week are not ideal for the storage of plums. According to market sellers, plums can only be kept for up to 1-2 days, and will easily deteriorate and rot if kept too long. Therefore, sellers have to lower prices in order to clear them as fast as possible.
Moreover, there are a number of varieties available. This week, there are many varieties of plums at the market, including black plums and red plums from Dalian, Huahong plums from Guangdong, early plums, Red Rose plums from Nanyang, and Tiantai plums. Supplies are also gradually increasing, such as Tiantai plums and early plums. The increase in varieties has put pressure on competitiveness at the market, causing prices to drop continuously.
As temperatures continue to rise, supplies of seasonal fruits will continue to increase, and prices of plums will continue to decline. The downward trend in plum prices is expected to continue through August, when prices will hit bottom.
Source: Henan Wanbang International Market