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China: Onion supply exceeds demand
Sannong Zhongguo reports that vegetable prices will often rise in the wake of cold air and the appearance of snow. The price of onions, however, dropped about 48% compared to the same period last year. The reason is that, on the one hand, that there is an abundant supply, and on the other hand, because the cold air currents came, so onion growers started to deliver their products early.
The domestic market suffers from the impact of low priced vegetables like Chinese cabbage, radish, etc. Onion transport is slow and the price is not likely to go up. Domestic processing plants take into consideration that the asking price for good quality yellow onions is high, so it is more difficult to obtain. At present, temperatures in onion producing areas have already reached -10°. With buyers forcing the price down, the market is in disorder. Buyers take into consideration that supply is plentiful, while the price is currently high, so they wait and see.
As mainland vegetables slowly retreat from the market and greenhouse vegetables start to supply the market, vegetable prices will hopefully recover. This provides the onion trade with good trade conditions and will certainly affect the transport volume of onions to the market, which will hopefully allow prices to recover. However, in the end supply still exceeds demand, so that the window for onion prices to rise has its limits. The market price of onions will adjust according to the ups and downs of demand.
Source: China National Radio
Publication date: 11/30/2017
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