INDUSTRIAL NEWS AND ANNOUNCEMENTS

"On April 2nd, China increased customs tariffs on the import on some US agricultural products as part of the ongoing Sino-US trade war. This directly increased the cost price for importers, and of course the market price of the products also increased. This development is most obvious for oranges in the Chinese market.

"The import volume of US oranges has sharply reduced and the production volume of Australian oranges fell. As a result, the US summer oranges already on the market have become more popular and their price reached a record high. As for South African oranges, their market price recently dropped because supply volumes increased. The price of South African oranges was still quite good at the start of the production season, but when US summer oranges arrived, the price of South African oranges suddenly dropped. At the same time, Australian oranges also face difficulties. The price was quite good last year, and many farmers therefore decided to join in and claim their market share. Many inferior brands are suffering losses." This is according to Mao Guangju, president of Shanghai Ouke International Trade Co., Ltd.

"It is our opinion that the price of imported fruits is influenced by the increased cost price of international trade, but that the main influence on the market price is still the size and quality of supply. If the product quality is excellent and the supply volume is small, then the price will increase. It is our estimation that traders will be more careful this year during the grape and orange seasons."

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