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- Commodity Fundamentals - 2004 Articles


Apples

The apple tree is the common name of trees from the rose family, Rosaceae, and the fruit that comes from them. The apple tree is a deciduous plant and grows mainly in the temperate areas of the world. The apple tree probably originated in the Caspian and Black Sea area. Apples were the favorite fruit of the ancient Greeks and Romans. The early settlers brought apple seeds with them and introduced them to America. John Champman, also known as Johnny Appleseed, was responsible for extensive planting of apple trees in the Midwestern United States.

Supply – US production of apples in 2003 was forecast at 220.633 million bushels (42-pound units), up 8% from the poor crop level seen in 2002. Despite the 8% increase, the 2003 crop size was the second lowest since 1988 and fell behind the 5-year average of 242.120 million bushels. The rise in US apple production in 2003 was mainly due to a sharp 63% increase in apple production in the US Midwest. Production in the eastern US rose 27%, but production in the key western US fell by 5%. Production of red and golden delicious apples in 2003 continued to fall and accounted for only 41% of total US apple production versus 50% in 2000.

Demand – The utilization breakdown of the 2002 apple crop showed that 63% of apples were for fresh consumption, 18% for juice and cider, 13% for canning, 3% for dried apples, and 2% for frozen apples.



*Articles from the Commodity Research Bureau (CRB) Commodity Yearbook. The single most comprehensive source of commodity and futures market information available, the Yearbook is the book of record of the Commodity Research Bureau, which is, in turn, the organization of record for the commodity industry itself. Its sources—reports from governments, private industries, and trade and industrial associations—are authoritative, and its historical scope is second to none. Additional information can be found at: http://www.crbtrader.com/pubs/yb.asp
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