(Yicai) May 17 -- The prices of durians have slumped more than 20 percent recently in some places in China as the market is flooded with the pungent fruit. But prices will start to climb again soon as the season ends and supply becomes less abundant, industry insiders said.

“Monthong durians from Thailand priced at CNY22.80 (USD3) for half a kilo today will likely cost CNY19.80 in a few days’ time,” an owner of a fruit store in Shanghai told Yicai. “Last week they cost over CNY30 and a year ago the price was CNY40 per 500g.”

Social media is flooded with bargains as vendors try to offload the fruit. Some are offering five durian for as little as CNY100 (USD13.85) and in some areas of Kunming, southwestern Yunnan province, durians are selling for less than CNY10 per 500 grams.

Unlike last year, the durian production season is normal this year and the output is large, Hong Shan, a durian buyer for Alibaba Group Holding’s supermarket chain Freshippo, told Yicai. Monthong durians at Freshippo are selling for CNY26 per 500g, a drop of 23 percent from the same period last year.

“The price of durians in China has fallen due to oversupply,” said Su Yingyi, a buyer for e-commerce platform Benlai. Drought can cause a decline in durian quality.

But prices will rise soon, Su said. The harvesting of durians in East Thailand should end in 10 to 20 days’ time and prices will rebound on dwindling supply.

The decline in durian prices is temporary, Hong said. “Prices are tumbling because due to the huge number of shipments but they will rise again from the middle of the month as fewer shipments arrive from Thailand,” he said.

China is the world’s largest durian consumer and relies almost completely on imports. The country imported 1.43 million tons of durians in 2021, more than six times that in 2017, according to statistics from the General Administration of Customs.

More durians are being grown locally in China. Over 2,000 hectares of the fruit have been planted in Sanya and Baoting in southern Hainan province. More than 266 hectares of this are already bearing fruit, and output has jumped five-fold from last year to 250 tons.

Editor: Kim Taylor