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China: Onion prices set to rise again at the end of next month
According to the Chinese outlet "The Agricultural Three", the market price for onions has been fluctuating wildly. For the past few years, this kind of phenomenon has frequently occured within the agricultural sphere. Not long ago, the price for chicken eggs, garlic and other agricultural products started to flucutate severely, and now onions have leapt on to the same rollercoaster ride.
Since May, onions from all over the country have been arriving at the market. This year's onion output per hectare is higher than in previous years. After having hit the market, the price has continously been running at a low. However, after onions from Gansu, Inner Mongolia and other regions reached the market, there were signs the market price might rise. Yellow-peeled onions might increase up to double the price of last year.
The output of producers was large, in fact supply was larger than demand, so this caused a drop in the price for onions. The market price for onions has been growing steadily recently, because in the wake of the changing weather conditions onions have become a main vegetable. Since last week, because the high prices supressed demand, the amount of products in the domestic downstream market products, exports and stockpiles was cut. With the passing of time, fundamental changes happened in terms of the quality of sources and resources, the buyer's market became occupied by some leaders and so the price had to decrease. However, the price will rise again at the end of October.
Publication date: 9/15/2017
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