Apple Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Apples in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Apple Price Trend for the Second Half of 2023

The fruit growers in Kashmir enjoyed a surge in their production returns as traditional apple varieties commanded higher prices in the market in the last two quarters of 2023. Compared to previous years of struggle and minimal profits, growers now witnessed an increased demand and substantial profits, with some reporting double the prices from last year.

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In addition to this, government assistance has facilitated smoother transportation, resulting in better returns for farmers as the supply sector was able to meet the requirements of consumer demand without any delay. This upturn was a significant relief for an industry that faced substantial losses in the previous quarters. Although this year's production has decreased, steady and strong demand offers hope for sustained relief in the industry.

Analyst Insight

According to Procurement Resource, the price trend of Apple is expected to maintain its uproar in the next few quarters, too, as the limited production rates and overpowering demand might cause an imbalance in supply-demand equilibria.

Apple Price Trend for First Half of 2023

In China and other apple-growing Asian countries, the rates of production in the first two quarters of 2023 declined by almost 5%. The major cause of the fall in the produce was unfavorable weather conditions like unseasonal rains, extreme temperatures, and hailstorms, especially in top apple-producing regions in China such as Shaanxi and Shandong. Not only the Asian regions but the US markets were also adversely affected by similar causes as the production slipped to the lowest possible levels since 2012.

As a result of reduced supplies, exports to the United States declined for a third straight year, falling to their lowest level since 2003–04 at alarming levels. In addition to this, Cyclone Gabrielle's effects on New Zealand's export supply also had a negative impact on crops and raised concerns in the industry. The cyclone's overall impact is anticipated to result in a 60,000-ton decrease in production to 453,000 tons and a more than 20% decrease in exports.

Overall, the supply of apples globally remained restricted due to a number of causes, climate change being the most significant of them. However, the demand for apples around the globe only saw an incline, pushing its prices towards a northward trajectory.

Analyst Insight

According to Procurement Resource, the price of Apples is expected to showcase a mixed trend as the restricted supply will likely fall short of managing the demand from the consumer sector.

Procurement Resource provides latest prices of Apple. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.