China: Citrus market drops as grapefruit go up
On the import market this week, orange prices have taken a dive. Sales have slowed down, but tangeri…On the import market this week, orange prices have taken a dive. Sales have slowed down, but tangerines and grapefruit are still fetching high prices.
According to market reactions, the downward motion of orange prices in China is mainly due to a large supply. This is especially true for South African oranges. The price for South African oranges has already dropped back to the same level as that of the start of the season. The Australian orange brand with the biggest influence, Sunkist, has also dropped to 300 RMB and is now hovering around 270 RMB to 280 RMB per case.
Grapefruit and tangerines, on the other hand, are going up in price. Currently the general market position of grapefruit has already risen to 190 RMB per case. The price hasn't been higher this season. When it comes to tangerines, Australian varieties aren't the only ones that sell very well. Tangerines from Peru are in high demand. Although the season is already halfway, the price for Australian tangerines hasn't gone down accordingly. An example is the official Australian tangerine brand 2PH. At the beginning of the season, 2PH sold tangerines at 520 RMB per case. In response to a delay, the price went up to 530 RMB per case. Also the sales of tangerines from Peru are doing better than last year. 10 kg of tangerines are sold easily for 170 RMB to 180 RMB. When converted to the Australian tangerine packaging of 19 kg, the price of the Peruvian tangerines is hot on the heels of the price of the renown 2PH brand.
Moreover, Zespri announced on Monday that it would start to export again. As a result, the price for New Zealand kiwis was adjusted. At the same time, the Chinese kiwi season has started as well. The red heart kiwis sell well because they are sweeter, but they haven't visibly influenced the the price of imported kiwis. Prices are at 55 RMB per case.