Weekly Product Updates

W14 Apple Update: Moldova's Apple Exports Surged, Peruvian Export Decreased in Mar-24, and South Korea's Apple Retail Prices Fluctuated in Mar-24

Fresh Apple
South Korea
Published Apr 12, 2024
In W14 in the apple landscape, Moldova's apple exports increased by nearly 22 thousand tons in Mar-24, valued at USD 13.6 million. This growth was mainly due to increased exports to Central Asian countries. However, EU apple stocks decreased by 2.2% YoY to 623.6 thousand tons, with Poland having the second-largest stock. Lastly, Peruvian exports dropped by 84% YoY to 265 tons, while South Korea's retail prices fluctuated by 3.6% MoM.

Increased Moldova's Apple Exports in Mar-24

In Mar-24, Moldova experienced a significant boost in its apple exports, reaching nearly 22 thousand tons valued at USD 13.6 million, a notable increase compared to previous periods. This surge was primarily due to increased exports to countries like Russia, Belarus, Romania, and several Central Asian nations. The growth is due to Moldova's strategic shift towards alternative markets, possibly replacing Iranian apples in Central Asia. With around 60 thousand tons of apples still in stock from the 2023 harvest, Moldova is poised for continued success in both external and internal markets, reducing the reliance on industrial processing.

European Apple Stocks Declined by 2.2% YoY in Mar-24

As of March 1, 2024, fruit stocks in the European Union (EU) have shifted significantly. Apple stocks decreased by 2.2% year-over-year (YoY) to 623.6 thousand tons. The decrease is due to reductions in Idared, Jonagold, Fuji, Granny Smith, and Red Jonaprince varieties, while Golden Delicious, Cripps Pink, and Gala varieties have seen increases.

Moreover, Poland had the second-largest apple stock with 706 thousand tons, following Italy, which led with 840.8 thousand tons, and France with 426.1 thousand tons. Poland experienced a significant reduction of 59 thousand tons from the previous year and 206 thousand tons from Feb-24. The most stored apple varieties in Poland were Golden Delicious, Red Jonaprince, and Idared, indicating a diverse storage portfolio.

Peruvian Apple Exports Dropped by 84%YoY in Mar-24

Peruvian apple exports in Mar-24 decreased by 84% YoY, reaching 265 tons. 80% of apple exports were fresh, while the remaining were processed into juice. Colombia is the primary export market, accounting for 80% of the total volume. The Dominican Republic and Puerto Rico were significant destinations, each receiving a 10% share.

South Korea's Apple Retail Prices Declined by 3.6% MoM in Mar-24

On Mar-24, South Korea's apple prices fluctuated significantly. Apple retail prices increased by 18% YoY, despite a 3.6% month-on-month (MoM) decrease from Feb-24. The average price for a bundle of 10 Fuji apples was USD 19.81 (KRW 27,030), reflecting both a YoY increase and a decrease from February's USD 20.57 (KRW 28,060). The government's efforts to mitigate the impact of a drop in apple production led to discrepancies in reported prices due to differences in discount application and statistical collection methods.

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