Extreme weather conditions have destroyed the lychee crop, which was supposed to bring $4 billion to Chinese farmers. UNN writes about this with reference to Bloomberg.
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China is the world's largest producer and consumer of these fruits, as well as a significant exporter. About half of China's lychees are grown in the southern province of Guangdong, where the harvest fell due to an unusually warm winter followed by heavy spring rains. In April, Guangdong experienced record rainfall, almost three times the normal amount, according to the provincial meteorological bureau.
Last year, China produced 3.1 million tons, but this year's harvest could be half that - between 1.65 and 1.75 million tons, says Chen Houbin, a professor at South China Agricultural University who has been studying the fruit for nearly three decades.
Meanwhile, Chinese lychee lovers have been complaining on social media about the sharp rise in prices, which has forced Guangdong provincial authorities to thaw more than 200 tons of fruit frozen since last year.
