May 10 (Bloomberg) -- China will probably increase apple juice prices “soon” after selling below the competition, according to wine and grape broker Ciatta Co.
Domestic apple juice prices are about $9.50 to $10 a U.S. gallon, and China is selling it at the low to mid $8 a gallon, San Rafael, California-based Ciatti, which says it’s the world’s largest broker of bulk wines, wrote in an e-mailed report today. Few processors are willing to continue to manufacture large quantities, it said.
Apple juice concentrate futures traded on the Minneapolis Grain Exchange have dropped 12 percent this year to $7.45 a gallon by yesterday.
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