The average fruit wholesale price yesterday hit a record high of NT$51.7 per kilogram in Taipei due to market demand exceeding supply, according to the Taipei Agricultural Products Marketing Co. (TAPM). The fruit wholesale price in Taipei has galloped all the way since the end of last year to an average high of NT$45 per kilogram in the first two 20 days of January, sharply up from a level of slightly over NT$20 posted one year earlier.

Yesterday, the average wholesale price shot up further to a historical high of NT$51.7 per kilogram due mainly to a significant shortfall in market supply. Chen Chung-nan, secretary general of the TAPM, said "I have never seen such a high price." Chen said that the fruit supply reached only NT$412 metric tons yesterday, far lower than the market demand of 550 to 600 metric tons.

According to Chen, the average wholesale prices for high-grade dates, wax apple, grapes and even guavas all hit new highs of NT$100 to NT$120 per kilogram.
Even bananas, which used to be a cheap fruit on the island, were sold for NT$40 to NT$50 per kilogram in the Taipei fruit wholesale market, at least 50 percent higher than a year earlier.

The prices for various kinds of orange products were comparatively more steady than those of other fruits, selling for NT$50 to NT$70 per kilogram, some 10 percent higher than normal levels. TAPM's Chen attributed the sharp rise in fruit wholesale prices mainly to the fact that fruit production was seriously undermined by a major typhoon that swept Taiwan in October. As the Chinese New Year is only 10 days away, Chen expected the fruit wholesale prices to surge further in the coming few days.

He forecast that the average wholesale price for fruit in Taipei may surge to NT$47 per kilogram before the Chinese New Year holidays, from the corresponding figure of NT$39 posted a year earlier. Quite a few people were shocked to find fruit prices shooting up to record highs. A 70-year-old grandma, for instance, was surprised to learn that guava is retailed at NT$60 per catty. "I have never seen that the guava price hit such a high during my life. I used to buy a guava for only NT$10, but now the corresponding price has shot up to near NT$30." Mr. Wang, who is serving at a high-tech firm, recently paid NT$55 to buy five bananas at a price of NT$45 per catty. "My wife has repeatedly scolded me for buying expensive bananas, and decided to have more vegetables instead of fruits."