The average price of European apples declined 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), because of easing retail demand and projections of higher European apple production. EU apple production is expected to rise by over 500,000 tonnes 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 tonnes in 2020/21, 1.9 million tonnes lower than the previous marketing year.
From economical to political, all the factors impacting the apple market have been analysed to provide a market outlook for the next six months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.