China: Hops market situation in China
The decrease in hop acreage led to a corresponding decrease in hop supply. The production volume was additionally reduced due to unfavourable weather conditions, according to The Barth Report of first half of 2005. Prices for hops from crop year 2004 were two to three times higher than those for the 2003 crop, which brought them back to normal levels. Farms were paid prices of 12 to 13 renminbi/kg for Tsingdao Flower hops. This corresponds to approx. 1.20 to 1.30 EUR/kg.
In mid-April, some 900 mt of hops (approx. 50 mt alpha) from crop year 2004 and previous crop years remained unsold. When the 2004 harvest began, the quantity of unsold hops from crop year 2003 and previous years is said to have been as much as 3,500 mt.
There will be a slight increase in acreage again in 2005. This increase will be in the region of 250 ha.
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