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GWM China Fruit Import Update: Citrus & Apples, Week 4/16
Week 4 saw a combination of poor weather, good weather, increasing prices for a range of items, good movement during the week and better movement on the weekend. By the weekend it was clear demand for cherries outstripped the available supply which resulted in phenomenal sales by Sunday. Promotions have been rampant during the week with some Chilean growers and exporters been called to the front lines to promote their hard work to a frenzy of excited retail customers.
Week 5 will be the final leg before Chinese New Year with everyone in the market trying to clear their fruits just in time at good values, while also trying to minimize the risk of leftover inventory which will be carried forward into the New Year.
North American oranges remained the most dominant imported citrus product available with limited citrus supply received from Israel, Egypt and Spain. Close to and during the end of week 4 approximately 3-6 containers of U.S.A oranges opened on a daily basis in Guangzhou market with most importers still selling their produce below cost price. By the end of week 4 most navels showing reasonably good quality priced at between ¥175-190 (count #72, 20kg) with few brands asking for above ¥200 (20kg). Shanghai was in a similar situation with the better suited (relatively) smaller sized fruit finding movement at between ¥180-200 (count #88, 20kg). Egyptian navels continued to price similarly to week 3 with importers mostly asking between ¥100-110 (count #56/64, 15kg), sales were however sluggish.
The imported supply of grapefruit remained limited while local supply was none-existent, this supply situation coupled with Chinese New Year demand allowed importers to increase price during week 4. Star Ruby showing good quality in the wholesale market progressively increased price with fruit able to find sales at between ¥160-180 (count #35/40, 17kg) as the weekend approached. Some grapefruit bound for retail showed more visible marking with exporters possibly trying to maximize returns off the back of retail.
As for the apples, gift focused and enormously sized apples continued to be visible on the market floor with Japanese apples asking as much as ¥350 (count #9), however it’s strongly likely there will be more costly fruit available. Highly priced fruit with a particular focus on Chinese New Year will need to be managed well as demand will reduced sharply in less than a week. Red Delicious remained in a similar price range however some smaller sized count #100 fruit increased asking price from between ¥250-260 to between ¥270-280 (20kg). Large sized Red Delicious remained priced from ¥300 through to ¥380, with branding and credibility still two of the most important factors determining price. Good quality fruit in popular brands priced in the range ¥320-350 (count #72/80, 20kg). French Royal Gala remained similar to previous weeks with price continuing to hover at between ¥180-200 (count #100/112, 18kg). Granny Smith remained a limited product in both wholesale as well as retail, with wholesale prices in week 4 no different than most of the season with asking prices between ¥200-210 (18kg).
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