Longan prices hit three year high as demand from China increases
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Longan prices in Chanthaburi have hit a three- year record high owing to unlimited demand for the fruit from China, Thai News Agency reported Thursday.
Songkram Ooncharoenpanich, a longan exporter in Chanthaburi, said exporters are buying up longan in two districts of Soidao and Pongnamron, where the fruit is a major crop, for export to China to fill continually rising orders.
Longan prices have risen to Bt33-35 per kilogram from Bt28-30 per kilogram and may reach Bt42-45 per kilogram in August when the highest demand for the fruit is expected in China, he said.
Due to the great competition in buying up longan, some exporters have even made advance purchases—placing ‘futures’ orders - even before the longan trees in orchards have produced yields to ensure growers will sell fruit to them.
Longan exports from Chanthaburi to China are recorded at B5 billion in value on average per year and the value is rising almost constantly.
