Leading up to the Chinese New Year, apple consumption has remained stable and sales are rather slow. It is estimated that, after the Chinese New Year, farmers might resort to storing their apples, leading to a dramatic drop in price. There are a few reasons for this. Firstly, this year's apple production will continue to grow, but the quality will drop. The Shandong production has dropped dramatically, and there is not enough supply. Secondly, the Chinese apple storage is rather large. Therefore, farmers might increase their storage. Thirdly, this year's apple consumption is very low. Lastly, because of the limited apple import from India, the export will drop.
Source: CITIC Futures