China's pine nut prices reach record high

Published 2021년 11월 12일

Tridge summary

The article highlights the significant increase in pine nut prices in China's harvest season, with records breaking at 30 yuan per jin ($9.39 per kilogram) due to high market demand, low imports, and increased labor costs. Despite China being the world's second-largest consumer of pine nuts, its production has fallen short of demand, leading to purchases from other countries. The rising costs have resulted in decreased profit margins for dried fruit companies. Additionally, the article discusses the challenges in pine nut processing and export dynamics, with many companies shifting their focus towards the domestic market to meet the surging demand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It is China’s pine nut harvest season and purchasing prices are skyrocketing. In September, pine cone purchasing prices still stood at around five to six Chinese yuan per jin ($1.56 to $1.88 per kilogram), but they have now risen to 11 yuan per jin ($3.44 per kilogram). If it is assumed that three jin of pine cones produces one jin of pine nuts, then the purchasing price of pine nuts is now equivalent to a record-high price of over 30 yuan per jin ($9.39 per kilogram). On the wholesale market, pine nut prices have reached 80 yuan per jin ($25.03 per kilogram). Meihekou County in Jilin province is Asia’s biggest pine nut distribution center as well as home to China’s largest pine nut processing facility. The county produces up to 100,000 metric tons of pine nuts annually, which corresponds to 80% of China’s total output. In recent years, however, the county’s production has been unable to keep pace with increasing market demand, causing buyers to procure pine nuts from other ...

Source: Producereport