China: Vegetable price increase in its seventh week

The price of vegetables always rises before Chinese Spring Festival [February 5th, 2019], not just in Beijing and Henan, but throughout China the prices of vegetables show various degrees of increase. This trend is now in its seventh week. Zhuochuang Information data analyst, He Tan, stated that consumer demand for vegetables entered a peak period after January 20th, 2019. The price of vegetables shows a seasonal increase as a response to growing consumer demand.

Liu Tong, from the Data Department of Xinfadi Market, stated that glasshouse vegetables from production areas in north China began to withdraw from the market when temperatures dropped in early December, 2018. Greenhouse vegetables took their place, but their cost price is higher, and the retail price consequently increased even further. Cold temperatures and rainfall also delay vegetable production and increase the cost of transport. He Tan stated that weather conditions were poor in late December and the price therefore increased. This was particularly obvious in Yunnan, a major production area of leaf vegetables.

The Ministry of Agriculture produced a report that predicts the average price of vegetables will fall by 2% in 2019. This report is based on a careful consideration of labor cost, annual patterns, and other influencing factors.

Source: Chinanews.com


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