W27: Peach & Nectarine Update
In W27 in the peach and nectarine landscape, 2023 peach production in South Korea is expected to reach 183 thousand metric tons (mt), a 10% YoY decline and an 8% drop on average. This decrease can be attributed to the damage caused by low temperatures during the 2023 spring season. Additionally, Cat varieties are predicted to decrease by 5% YoY while Nanny varieties are expected to decline by 13% YoY. Also, Sunpre peaches are projected to be priced between USD 22.04/10kg and 25.19/10kg, while white peaches are expected to range between USD 15.75/4kg and USD 18.89/4kg in Jul-23.
Chinese peaches have become popular in Vietnam due to their variety and affordable prices. Prices range from USD 0.30-0.51/kg for yellow and green smooth-skin peaches, USD 0.85-1.06/kg for feather peaches, and 1.69-2.11/kg for honey peaches. However, a special Chinese peach variety stands out with a higher price of USD 21.14/2kg (a box of 6 fruits), approximately USD 10.57/kg. This peach is pinkish-red, crispy, and sweet, weighing around 0.35-0.40kg per fruit. It is considered the most expensive fruit in the Vietnamese market. In the first five months of 2023, Vietnam spent nearly USD 260 million on importing vegetables and fruits from China, with oranges, apples, and peaches as the most imported items.
Lastly, from late May-23 to early Jun-23, the first significant batches of peaches and nectarines arrived in Uzbekistan wholesale markets, resulting in an immediate downward trend in wholesale prices. From June 2 to June 30, the average peach and nectarine wholesale price in Uzbekistan decreased from USD 2.37/kg to USD 0.95/kg, a 2.5-fold drop in almost a month. Comparatively, wholesale prices in the past three weeks have remained within 20% of 2022's levels. The significant price decline in Uzbekistan led to increased peach and nectarine exports to foreign markets. These fruits are crucial in Uzbekistan's fresh fruit and vegetable export sector, ranking second in terms of revenue after fresh table grapes. Uzbek peach and nectarine exports amounted to 20.9 thousand mt from May-23 to Jun-23, an increase of 22% YoY.
