Asia

China Has Its Own Apple Launch That's Nothing to Do With IPhones

Fri, 13 Nov 2020 06:04:42 GMT

(Bloomberg) -- They won’t be lining up round the block to get their hands on them, but there’ll no doubt be some buyers keen to snap up China’s new apple futures contracts.

The Zhengzhou Commodity Exchange will list Fuji apple futures on Friday, adding to contracts it already offers including wheat and white sugar, meaning investors could pretty much hedge all the key ingredients of an apple pie. They’ll start trading at 7,800 yuan ($1,184) a metric ton.

The apple contracts will be for delivery in May, July, October, November and December and trading will run from 9 a.m. to 11:30 a.m. and 1:30 p.m. to 3 p.m. local time. Fruit will be 80 millimeters (3.1 inches) or more in diameter, with a 2,000 yuan per ton discount for apples between 75 millimeters and 79 millimeters. China has fresh apple storage capacity of 10 million tons, or about 25 percent of production, according to the Zhengzhou Commodity Exchange.

Apples are the most popular fruit in China and the country is the world’s biggest producer, accounting for more than half of global output. Chinese exchanges this year started options for soybean meal and white sugar and authorities have said they’re studying futures including ginger, hogs and potatoes. Until one of them launches milk futures though, you won’t be able to hedge your custard.

©2017 Bloomberg L.P.

T&G Global expands Orchard Rd brand in Asia

Tue, 15 Nov 2022 07:41:02 GMT

Hoping to bring the same excitement to the grape category as it did to apples with Jazz and Envy, T&G Global is moving into grapes with its Orchard Rd brand.

The New Zealand company is launching the brand in Southeast Asia, and has been working with growers in the U.S., Peru, Chile and Australia in preparation to providing a year-round grape program. The company has been trading under various brand names in several markets, T&G Global CEO Gareth Edgecombe said in a news release.

“We will leverage our global T&G sales network, utilize the relationships we have built up via our premium apple business, enhance our quality-control processes in farm and in-market, optimize the worldwide supply chain and invest in marketing, all to differentiate ourselves in the crowded grape marketplace,” Edgecombe said in the release.

The company is partnering with four California growers, along with others in South America and Australia to supply retailers in Singapore, Vietnam, Hong Kong, Taiwan, Indonesia, as well as Australia, New Zealand, Fiji, South Korea, Japan and soon, China, according to the release.

The company has an in-market sales team in China and has opened an office in Vietnam, with more Asian offices planned, according to the news release. Branded point-of-sale materials, packaging and sampling programs are features of the Orchard Rd marketing in different markets, according to the release.

The Orchard Rd brand started in 2018 for grapes, berries and kiwifruit in Australia.

T&G Global has plans to grow the premium branded grape sales substantially, according to Edgecombe in the release.

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Shipper, study: Hazel Tech for grapes improves freshness

Fri, 23 Sep 2022 20:00:00 GMT

A Mexican table grape grower-shipper has reported successful results shipping to Asia when using shelf-life extending sachets from Hazel Technologies , Chicago.

Campos Borquez, which grows grapes in the Mexican state of Sonora, used the Hazel for Grape sachets in the cartons of Early Sweet green seedless grapes. When the grapes arrived at their destination 21 days later, their condition was compared to grapes held in storage under the same conditions without the Hazel Tech treatment.

“Our grape arrivals in Asia with Hazel Tech displayed improved stem turgidity and appearance compared to control fruit without Hazel,” Rodrigo Torres, vice president of sales, said in the release.

The Institute of Agricultural Research (INIA) in Santiago, Chile, recently completed a related study, “Effect of the Use of the Hazel Grape Sachet on Table Grapes,” according to the news release.

The INIA researchers studied the effects of the Hazel Tech product on Autumn Royal and red globe grapes sent to Asia and also held grapes in cold storage at the institute, checking on quality for up to 60 days.

The study looked at the rachis, the long central stem that runs the length of the bunch, and treated rachis showed less dehydration, according to Natalia Param Agurto, post-harvest manager of Hazel Technologies Inc., in the release.

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Northwest cherry export forecast optimistic

Fri, 23 Sep 2022 18:09:37 GMT

Despite the global COVID-19 pandemic, Northwest cherry growers are optimistic about export opportunities this season.

About 35% of the Northwest cherry crop has gone to export markets in recent years, according to a news release from commodity group Northwest Cherry Growers , Yakima, Wash.

“Our key markets of China, Taiwan, Korea and Vietnam are handling the pandemic very well and businesses have started to reopen,” Keith Hu, vice president of international business development, said in a news release. “Due to lost revenues, retailers are very keen on the arrival of Northwest cherries, and we intend to run aggressive promotion campaigns in those markets this summer.”

While a stronger U.S. dollar will slow sales to markets including Australia, Brazil and the Philippines, B.J. Thurlby, president of Northwest Cherry Growers, is confident overall exports will perform better than expected as the pandemic continues in the U.S.

“However, we are lucky that our core volume markets of China, Korea, Taiwan and Vietnam seem to have handled the COVID-19 outbreak as well as can be hoped and are well on the way to recovery,” Thurlby said in the release.

Just how many boxes those countries take is the “million-dollar question,” he said. A realistic estimate is six million 20-pound boxes, Thurlby said in the release. That could end up being 30% of production, which is expected to be lower than in several years.

In 2017, Northwest cherry exporters shipped more than a combined 7 million boxes to Canada, China, Taiwan and the Republic of Korea, commonly known as South Korea.

Exporters of the crop ship 95% of the cherries by air, and although there are fewer flights available, low fuel costs will help them deliver fruit at competitive prices.

“Three out of four of our key markets are major airline transit hubs in Northeast Asia (Seoul, Taipei and Shanghai),” Hu said in the release. “Therefore, getting both direct commercial and cargo flights to China, Taiwan and Korea will not be an issue.”

By June, airports in Seattle, San Francisco and Los Angeles will have regular flights to northeast Asian cities from these airlines, according to the release:

Korean Air
Asiana Air
EVA Air
China Airlines (Taiwan)
Delta
United
ANA
UPS
FedEx
China Eastern Cargo
Air China Cargo
Korean Air Cargo
Asiana Air Cargo
China Airlines Cargo
Polar Cargo

For more coverage on how the global pandemic is affecting trade, see The Packer’s COVID-19 webpage .

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