According to the national produce information public service platform, recent vegetable prices have seen some increases, especially spinach has seen a sharp increase, with wholesale prices of this vegetable in some wholesale markets having spiked by more than 30%. So what are the reasons for this rise in prices and how long will this last?
In May and June, with a significantly increased supply of various open-field vegetables, vegetable prices across China experienced a seasonal drop. Spinach prices dropped sharply, with wholesale prices falling below 3 yuan/kilo in many wholesale markets. Since July, vegetable prices have picked up again, and spinach is no exception. Wholesale prices in some wholesale markets passed the threshold of 4 yuan per kilo, and some even approached 6 yuan.
He Tan, an analyst from Zhuo Chuang Information believes that this has mainly been influenced by supply and demand. Seeing the conditions of the vegetable market, many growers chose to leave the market early. Weather is also a very important factor affecting the relationship between supply and demand - the prevalent heat in China at the moment has affected the market supply.
Source: Sannong China