Fruit prices fall as bumper harvests boost supply
South African consumers are getting some relief in the fresh produce aisle. Fruit prices have plummeted by 8.5% year-on-year in May.
According to the Pietermaritzburg Economic Justice and Dignity (PMBEJD) Household Affordability Index, oranges dropped by 21% month-on-month, alongside bananas and avocados.
Chief Economist at the Agricultural Business Chamber, Wandile Sihlobo, says massive local harvests are driving prices down.
“If you look at the harvests, across various agricultural produce, particularly fruits, vegetables, grains, and all seeds, we have enjoyed excellent yields all across and as a result of that, we’ve seen prices of some of these products coming down. If you look at fruits and vegetables, even in the May inflation figures that we have, those are already in deflation and the reason for it was exactly the ample supplies that we are having. I’m thinking here, citrus-related products, avocados or some of those products, and many vegetable products because of the ample supplies that we have.”