Fruit prices in China soared last year, hitting a record high. not seen since May 2014. Current prices are at an average historical level for this period of the year. As the weather turned cold earlier this year, the point where prices increase due to the seasonal cycle slightly advanced, and the wholesale prices across China stopped falling in September.
After the National Day holiday, prices have risen significantly. There are two main reasons for this:
First of all, fluctuations in prices follow the seasonal cycle. In autumn, a variety of summer fruits gradually left the market, so prices experienced a seasonal increase. Nevertheless, the current prices are more or less at the average level of the same period historically, and the fluctuations and increases are in line with the seasonal cycle. As the weather turned cold earlier this year, the turning point in pricing was also slightly earlier.
Among the big-selling fruit items, the price of ya pears rose significantly. This is mainly due to the fact that lower production in the main production areas, as a result of natural disasters, led the market to have an expectation for higher prices. Purchase prices, therefore, increased, resulting in significantly higher prices. Compared with last year where production was high and prices were low, prices also rose significantly year-on-year.
Secondly, the recovery of the general market drove up fruit prices. Due to the effective control of Covid-19, consumption, tourism, and catering experienced a significant recovery during the National Day and Mid-Autumn Festival holidays, which drove fruit consumption and to a certain extent fruit prices.
Source: Economic Daily
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October 26, 2020 at 08:07PM
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