Goji berry harvest season usually starts from the end of June and ends in October. Generally speaking, new crop Goji bery maintains at high price early harvest season in July and began to drop slowly and go back to normal price at the end of harvest season in October as long as more and more new crop Goji berries became available.
2020 crop Goji berry output dropped by approximately 30% because of reducing growing area. For past years, Goji berry price and profit kept at low level, which decreased goji berry growing area by 25%-30%.
Because COVID-19 hit worldwide economic and people's expectation at the first half of 2020, Goji berry price kept decreasing from July. to Aug. slowly and went down to the historical bottom at the end of Aug., therefore, lots of Goji berry farmers gave up picking the last goji berry harvest in Sep., as they expected goji berry price kept decreasing and would probably plunged below the cost of production, the more they harvested, the more loss they would get. Therefore lots of last harvest Goji berries were rot and wasted in growing field.
But China controlled COVID-19 quickly and securely and Chinese economic and domestic demand recovery were faster than people's expectation. Even if worldwide goji berry demand was decreased by COVID-19, but more than 90% Goji berries are consumed by China domestic market, so recovering domestic goji berry demand and reducing output push up goji berry price in Sep., Till Oct.20, Goji berry price increased by 5%-10% and keeps increasing continuously.
Panda Foods expects that Goji berry price could not increase sharply a lot in months, because weak worldwide economic could not support it, we think Goji berry price would probably go up slowly for a while and began to keep stable.
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Contact: Coco Lee
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