This year's grapefruit harvest was abundant. The output increase, led to market oversupply. The white grapefruit purchase price already dropped below the production costs.
Already the majority of the growers endured losses due to the bumper crop. Last year, the average purchase market price of the honey grapefruit was 1.8 Yuan per 0.5 kilo. This year, by the end of September and early October, when grapefruit just entered the market, the average market price was 1.4 Yuan per 0.5 kilo. At that time a lot of grapefruit farmers were reluctant to sell, which they now regret.
There are two main grapefruit varieties on the market. One is the white grapefruit and the other is the red grapefruit. The white grapefruit retail price is quite cheap. The main reasons for this are the oversupply on the market and saturation of the market requirement. Due to the abundant rainfall the output is expected to increase by 2%.
In former years, the end of the honey grapefruit selling season was two weeks before Chinese New Year. But according to speculations, the selling season might continue for an extra month.
