BEIJING — Fruit prices are expected to drop to a reasonable range after a recent price hike, thanks to rising temperature and increasing market supply of seasonal fruits, the Ministry of Commerce said on June 5.
Certain kinds of cherry, watermelon and litchi in Beijing Xinfadi Wholesale Market saw their prices fall over 40 percent on June 4 compared with their prices from the beginning of May.
Seasonal fruit prices hike usually occurs in April and May as they are the slack seasons for fruit supply, the ministry said.
According to the ministry, prices of apple and pear which suffer more from the impact of short-term changes in supply and demand and weather conditions, are expected to return to a reasonable range with seasonal fruits going on sale in the market.
As the largest fruit producing and consuming country, China produced 257 million tons of fruit and imported about 5.53 million tons in 2018, the ministry said.
It will continue to strengthen market monitoring to guarantee market supply of fruit, vegetables and other necessities, the ministry added.