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New 5 year low

China: Winter vegetable prices like a roller coaster ride

As the temperature gradually decreases, the price of vegetables usually rises, however, in November this year, the price of vegetables in the north fell sharply to hit a new five year low. 

Wholesalers generally believe that this year's vegetables harvest and the situation of oversupply in the market, is the reason for the price drop. The vegetable supply in general is meeting demand but the person in charge of the Xinfadi market expects that the price of most vegetables will remain at a low level until the Spring Festival. This also means that the income of vegetable farmers will face a decline.

This situation exists not only in Beijing, but also in Zhengzhou, Wuhan, Suzhou, Changsha and other places. Even in the garlic market, which has been hyped up, the garlic price in Shandong Jinxiang has dropped by 38% year-on-year, far lower than last year, when the garlic planting area was reduced by 30% this year.

Source: Xinhuanet


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