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Fruit & Vegetables
Apples
24Apple EU - EUR/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
0
200
400
600
800
AU66 - Apple Idared >70mm whs ave PL
The average price of EU apples declined by 69% y-o-y and 22.5% m-o-m to EUR 180/MT in May 2021. This
price decline can be attributed to lower retail demand compared to the peak of coronavirus-related lockdown
restrictions (Q2 2020). EU production of apples is expected to be higher than previous estimates for the 2020/21
MY, at 11.5 million tonnes. Robust production forecasts adds to the bearish sentiment evident in the current market.
The Mintec price of US apples increased by 43.7% y-o-y to USD 1,619.25/MT in May 2021. Firm demand
continues across the US market, amid COVID-19 and led to lower apple inventories y-o-y in May 2021. The USDA
Food Box Program over the last 12 months has removed vast amounts of smaller apples from the market and
tightened domestic supplies.
Apple US- USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
1,000
1,200
1,400
1,600
1,800
6V02 - Apple Red mp Chic US hi
Apple China - USD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
0
500
1,000
1,500
2,000
2,500
2B11 - Apple whs CN
The Mintec price of Chinese apples fell by 5.1% m-o-m and 2.2% y-o-y to USD 1,123.7/MT in May 2021. The
Chinese apple price has been stable over the previous year, with the domestic market being relatively well supplied.
High shipping rates to key markets deterred Chinese growers from exporting apples over the last year, amid
COVID-19. Consequently, this has led to larger volumes on the domestic market.