The average price of European apples dropped by 61% to EUR 218/MT in the last six months (Jan ‘21-Jun ‘21), compared to the previous six-month average (Jul ‘20-Dec ‘20). The drop was due to easing retail demand and projections of higher European apple production.
EU apple production is expected to rise by over 500,000 tons y-o-y, to 12.2 million for the 2020/21 Marketing Year (MY), as greater supplies from an on‐year in non‐commercial orchards more than compensate for losses in weather‐affected commercial orchards.
The average price of Chinese apples rose by 3% to USD 1,160/MT in the last six months (Jan ‘21-Jun ‘21), compared with the previous six-month average (Jul ‘20-Dec ‘20), in line with projections of lower apple production for the 2020/21 MY. The USDA forecasts Chinese production at 40.5 million tons in 2020/21, 1.9 million tons lower than the previous marketing year.
Mintecglobal.com reports that all the factors impacting the apple market have been analysed to provide a market outlook for the next six months.
