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China: Price of new potatoes falls 30% compared to last year
Driven by the soaring prices in the spring of 2016, this year many growers expanded their cultivation area to get higher yields. This year, prices have been falling and in many areas even by around 30%. Therefore, the profit of potato growers has been affected. Every year between April and May, new potatoes will enter the market, but as many consumers have found out so far, the prices this season have dropped significantly compared to last year.
The fast-rising price last spring was mainly caused by extreme weather, which did not happen this year. Instead, this spring vegetables of various kinds have grown well and the supply has been relatively sufficient, and thus the demand for potatoes has decreased.
Judging from the current situation, wholesalers are faced with bigger pressures and are thus reluctant to buy in more because of the slow sales. The overall market outlook of potatoes is not optimistic.
Publication date: 5/4/2017
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