Durian prices crashing
https://asia.nikkei.com/Spotlight/C...pical-fruit-rotting-at-China-border-crossings
Durian farms in Thailand have also been hit just as the harvest season is set to begin. Production is forecast at 956,000 tons this year - up about 27% from 2019 - on the back of growing demand from Chinese traders and tourists.
Helping drive China's newfound appetite for the fruit has been Jack Ma, founder of e-commerce giant Alibaba Group Holding. In April 2018, Ma said he would start selling durian online. He then stunned Thai officials by selling 80,000 durians in just one minute on his shopping site.
But instead of cashing in on increased Chinese sales this year, growers face disaster. Nearly one million tons of durian is expected to flood the market from late February, with few buyers in sight. "We can't do anything except pray for an end to the outbreak," said Jira Payungporn, a durian trader in Chantaburi Province, home to Thailand's premium durian.
Paiboon Wongchatsathit, president of the Thai Fresh Fruit Traders and Exporters Association, said Thailand has lost a good chance to boost durian exports.
He said prices are expected to fall sharply this year, angering farmers, who will likely call for government support. "Prices could fall to 50 baht ($1.60) per kilogram, down from 180 baht during last year's boom," Paiboon said.