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China: Onion prices take a dive
According to Sannong Zhongguo, onion prices in 2017 hovered at their lowest position. In some places it was impossible to even sell them. This price depression will remain the same in 2018 because the output volume is exceedingly large and there is already too much stock in cold storage. The price has already fallen below cost price. Aside from prices, onion transport is also in a mess. Delivery from Shandong is overall slow, and delivery from Inner Mongolia and the northeast is piecemeal. Merchants with onions in storage also face severe losses because the current price is poor.
Onion prices in 2017 have been at a low point from the moment they were harvested. This is mainly due to an expansion of the production area, which increased the production volume. However, with setback after setback for onion prices, merchants with storage still bought relatively large amounts of onions. Everybody hoped that the market would recover, but the reality is harsh. Domestic and international trade markets are not ideal. Furthermore, the already awkward market is at an impasse because merchants with storage maintain a high price to avoid suffering losses.
Many areas in China have suffered snowfall and rainfall in recent days. Afterwards, the onion price may show a slight increase. This increase, however, will be temporary. In two months the onion harvest from Yunnan will enter the market in large volumes. At that point the price will again be adjusted.
Source: China National Radio
Publication date: 1/15/2018
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