May 21, 2024 | Produce Report |
Adverse weather conditions have led to a sharp decline in China's lychee production, causing market prices to rise. Vietnam's lychee season has also been affected, with Bac Giang province experiencing a 50% decrease in output compared to last year. This reduction is attributed to similar weather patterns during the flowering stage as seen in China. Despite the decrease in production, demand remains high, resulting in increased prices. Grade 1 lychees now sell for nearly 60,000 Vietnamese dong per kilogram, up from previous years. Chinese traders have begun arriving in Bac Giang to procure lychees, with over 200 traders visiting in 2023. In Huyen Thanh County, Hai Duong province, lychee production is expected to halve from last year, but improved quality is anticipated to drive prices up by 10-20%. The region's first batch of lychees was exported to Australia, with plans to export to additional markets like France, Thailand, Singapore, and Canada this year.