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China: Price of bok choy drops to lowest point in 5 years

The wholesale price of bok choy in the Xinfadi Market is currently between 0.2 and 0.25 yuan [0.03-0.04 USD] per 0.5 kg, which is a decrease of 18.18% in comparison with the previous week as well as an 18.18% decrease in comparison with the same period last year. The price has fallen to the lowest point in 5 years.

The price increased almost to the highest point in 5 years between the last week of August and the first week of October when the weather was hot and rainfall was excessive, but when the significantly increased production volume of bok choy from north China entered the market in bulk, the price dropped and dropped again.

Most of the current market supply comes from Tangshan in Hebei near Beijing. The transport costs of bok choy from other areas is relatively high. This weakens their competitive power in relation to local bok choy in the Xinfadi Market and they are currently unable to enter the market. Production areas in north China have not yet encountered frost, and farmers are hopeful they will be able to sell more bok choy before the frost arrives. The price is not likely to rise anytime soon.

Source: Beijing Evening News

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