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Great frost severely damaged 2018 apple crops

Author:Panda Foods Date:2018-5-29 14:41:10


        A extremely great frost had struck some main apple growing areas in April and caused severely damage on new crop apples. Rumors like "the most serious frost for past 50 years in China","80% production reduction" are flying.

        Media flocked to these main apple growing areas for investigation.

                        invsitigation route on apple main growing areas

        Shanxi Province: 80% output reduction in severely disaster zone, second bloom hardly rescue production; 40% output reduction in light disaster zone.

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        Shandong Province: very slight damage and effect on apple production. Apple grow very well in some areas.

 

        Ningxia province: 60-70% production reduction

 

         According data from "CITIC Futures", the overall apple production reduction in China would be 32.52%, effected by this news, apple futures price in Oct. has been increased 41.14% since April, and the volume of apple business soared to 60 billion dollars one day and became "crazy apple"

 

        But other sources said that apple output reduction is not as severe as rumors, second bloom would probably increase the production and save the disaster. What's more, current crop apple still kept high stock and which could offset on new crop apple reduction.

 

        But in fact current crop dried apples price increased approximately 10%-15% since April and kept increasing, Panda Foods will keep an eye on new crop apple and suggest you buy as much dried apples as possible at present to avoid soaring price risk in future.


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