Asia’s fruit import trade is gearing up for Chinese New Year (CNY) on 14 February, but as our in-depth preview reveals in the Asiafruit Magazine January/Febuary edition, the year of the tiger looks likely to be ushered in with more of “a low growl than a triumphant roar”. Indeed, while it remains the high point of the fresh produce sales calendar in Asia, CNY these days fails to raise the same excitement levels among the trade that it once did.
In certain more mature markets, such as Taiwan, there’s even a nostalgic tone among wholesale importers who reflect on how sales that once leapt 10-fold now increase only two-fold. Some of them attribute the decline to a generational shift, noting that younger people prefer to spend their money on other luxuries or on travelling abroad during CNY rather than the traditional custom of spending time at home with the family, and money on gifting fresh fruits.
While there is some credence to this argument, which is echoed in other places like Singapore, it also reflects a broader loss of lustre for those markets, and it does not hold true for every country in Asia.
With a region so complex and diverse, the question of whether CNY is growing or depreciating in importance depends on the perspective. In mainland China for instance, consumers are more traditional in observing this major event. Trade of imported fruits into China is expanding at a healthy clip, and the gift-giving market is an integral part of this growth. It’s a similar story in Vietnam.
The timing of CNY, which can vary significantly from year to year, adds another twist to this difference of perspective. This year, it falls later than usual, and the longer build up may help to explain the current sedate mood among buyers. The variable timing conversely keeps a keen sense of anticipation among suppliers, some years falling favourably for their products, other years not.
CNY happens to coincide with Valentine’s Day this year, and that could provide a further boost to sales of items like cherries and berries, at least for those who can supply product late enough. Interestingly it’s these kind of high-value products that have been enjoying increased demand in Asia, not just for gift-giving but for general consumption. And those in the trade who lament the lack of a spike in demand for CNY nowadays should also take heart from the way imported fruits have become more of a year-round purchase in Asian markets, not least for younger consumers.
