During the first quarter in the Hainan province, it is normally the low season for fruit listing, however this year the fruit prices went down significantly, including banana, mango and watermelon prices dropping 11.8%, 14.8% and 30.9% respectively.
The main cause for this price decrease was driven by the increase of the province's main production acreage and volumes of tropical fruit. As its volume increased over 10%, and the imported fruit supply account for a considerable market share, the fruit storage volume remains at a high level. This, as a consequence led to the price drop. In regard to mango and watermelon, their price reached a high level during the fourth quarter last year, but their price started to fall due to a large number of seasonal supply.
