According to EastFruit analysts, Singapore sharply reduced the volume of apple imports in 2021, despite their lower price. Ukraine is not among the suppliers of fresh apples to Singapore for the first time in recent years.
In the first three quarters of 2021, this Asian country imported 27.2 thousand tons of fresh apples – 17% or 5.4 thousand tons less than in the same period in 2020. Imports reduced from all five largest supplying countries: China, New Zealand, South Africa, the United States and France.
Notable is that China which had surplus stocks of apples and offered them at a record low price during the first nine months of 2021 also reduced their exports to Singapore. We published a detailed analysis of the Chinese apple market in 2021 in the article: “Apple market in China: high stocks, low prices, pessimistic expectations“.
In this context, the sharp increase in apple imports to Singapore from Turkey and Italy attracts attention. Turkey managed to increase its apple exports to Singapore by 62%, and Italy by 73%. By the way, we have been paying attention to the Turkish apple phenomenon for quite some time. The situation is different in Italy – producers clearly overestimated the demand for apples in the 2020/21 season and entered the summer season with record apple stocks, which they failed to sell before the start of the new harvest. Therefore, apples of the 2020 harvest are still being sold on the Italian market. Thus, Italian wholesale prices were low, and they actively offered their apples in the markets of Southeast Asia at a competitive price.
We remind you that the new season for apple growers and exporters in Eastern Europe may become much more difficult than the previous ones. We have provided a detailed analysis of the reasons in the article “#Freshapplecrisis“.
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