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The Mintec price of Argentinian pears rose by 21.6% m-o-m and 51% y-o-y to ARS 73.65/kg in June
2021. This price increase can be attributed to a reduction in Argentinian pear output by 20,000 tonnes
y-o-y to 620,00 tonnes for the 2020/21 MY due to declining acreage. Furthermore, rising costs of
labour, transport and energy have significantly altered the pricing and profitability of the pear market
over the last two years.
The Mintec price of Chinese pears rose by 5% y-o-y to CNY 5,850/MT in June 2021. The price
increase is due to tighter Chinese pear supplies. China's pear production for the 2020/21 MY is
expected to decline by 1.3 million tonnes y-o-y to 16 million tonnes due to lower production in the
Hebei province, the largest pear producing region. Frost during the fruit development period
significantly impacted production volumes in Hebei. Reports suggest that vast volumes of pears are in
storage across China. However, they are of poor quality.
The EU pear price fell by 34.7% y-o-y to EUR 1,490/MT in June 2021 but increased by 18% m-o-m.
The m-o-m increase is due to frosts which could impact production for the 2021/22 MY, however it is
too early to quantify the impact of any potential damage. The y-o-y price decline is attributable to
lower retail demand compared to the peak of coronavirus-related lockdown restrictions (Q2 2020). In
addition, pear supply across Europe is projected to rebound from last year's weather and pest-related
losses. European pear production is forecast at 2.3 million tonnes for the 2020/21 MY, 0.28 million
tonnes higher y-o-y. Furthermore, exports are projected to decline by 0.2 million tonnes, ensuring a
well-supplied domestic market.