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China: Shandong Yangu sweet potato price shoots up
The Shandong Yangu County Administration for Commodity Prices monitors the prices of various fresh produce. On 4 January 2018, the price for Yangu sweet potatoes was 1.90 yuan per 500 gram. This is an increase of 58.33% from last year, and the highest the price has been in years. From the start of winter, the sweet potato price soared from 0.50 yuan to 0.70, 1.20, 1.50, 1.89 and finally 1.90 yuan. In 2016, the price was at its highest at only 1.20 yuan per 500 gram, and in 2015 this was 1.00 yuan.
The Yangu County Administration for Commodity Prices has found the following reasons for this price increase:
Firstly, because sweet potatoes are typically a winter product, the demand increases in winter.
Secondly, the Yangu soil is not suitable for growing sweet potatoes. Therefore, the majority are brought in from other areas, and then sold locally. This increases the costs, which means that traders will raise their prices to maintain a profit.
Thirdly, there are only few suitable environments for growing sweet potatoes. This affects the overall production area.
Halfway through winter, as this is the season for sweet potatoes, it is estimated that the price will not increase as much anymore.
Shandong Yangu County Administration for Commodity Prices
Publication date: 1/9/2018
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