Friday, May 15, 2009

Japan's melons take price hit (only 500,000 yen now).

Oh Japan. You so crazy.
The latest victim of Japan's recession is round, sweet and famous for being shockingly expensive.

The first two Yubari melons of the season were auctioned Friday in northern Japan and fetched 500,000 yen ($5,200). Pricey? Certainly. But it's practically a steal if you consider last year's winning bid _ a record 2.5 million yen, or about $26,000. In 2007 they sold for 2 million yen.

It appears the world's swankiest melon is in a major deflationary slump.

Weighing about eight pounds, the premium cantaloupes were part of the season's initial harvest at Sapporo Central Wholesale Market. Every year buyers flock to the market for a shot at the prestige of winning the very first melons of the year.

The orange-fleshed melons are grown only in the city of Yubari, a small town on the northern island of Hokkaido. Valued for their perfect proportions and taste, they are typically given as gifts by Japanese during the summer.


More here.

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