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Severe overlap in market supply

China: Vegetables encounter difficult market conditions

The price of vegetables showed a general downward trend this autumn. The reasons for this development include abundant product variety, product area expansion, long supply times, and regulation violations. The main reason, however, is excessive market supply. The price of vegetables has been relatively high since summer. This price encouraged farmers to expand plantation and the supply volume quickly increased. This resulted in a situation where supply exceeds demand. At the same time, weather conditions improved in autumn, so that the production volume further increased.

In addition, as supply shifts from one production area to another, there is great overlap between supply from various production areas. Excessive supply leads to difficult sales conditions, and in some cases to unmarketable vegetables. The summer was hot and there was too much rain. These weather conditions delayed the autumn production season, so that the first supply of winter vegetables overlapped with the late supply of autumn vegetables. The market was unable to absorb this supply volume. In particular as farmers hurried to harvest vegetables before the first frost could damage them.

Source: Economic Times


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