According to the latest Consumer Price Index data from the Bureau of Labor Statistics, from September to October, prices for various products in the US went up, but apple prices plunged 7.9%. This year, apples are plentiful thanks to great apple-growing weather in the spring. That, coupled with typical seasonal trends, lower freight costs and changing dynamics in the export market, has pulled down prices this fall.
Washington state, the country’s top apple producer, is expecting to produce 140 million 40-pound boxes of apples for retail this year, according to Jon DeVaney, president of the Washington State Tree Fruit Association. That’s up sharply from 104 million boxes last year and is also much higher than the roughly 123 million in 2021.
For farmers, who are already facing a challenging environment because of high costs and unpredictable weather, this is not a positive development. In general, apple prices dip in the fall, because that’s when they’re harvested and flood the market. But a supply glut this year has made the price decline even sharper.
Source: edition.cnn.com