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Chinese cabbage prices much higher than last year

The price of Chinese cabbage has shown a significant rise in the last few days. The price is much higher than around this time last year. The main reason is the decline of the overall surface area devoted to Chinese cabbage plantation. Another reason is the frequency of heavy rainfall in Hebei as autumn approaches. At times the storms include hailstones as well.

Last year, Chinese cabbage farmers earned around 2,200-2,700 yuan [321-394 USD] per 0.07 hectare. This year that number was already high at 4,000 yuan [584 USD], but has now increased to 6,000 yuan [876 USD] in some areas. Although the purchase price has gone up, wholesale traders are still able to make a small profit. However, the market price has to remain upward of 1.40-1.45 yuan [0.20-0.21 USD] per 0.5 kg or wholesale traders will start to lose money.

In addition, the cabbage price in Korea also increased because the wet monsoon lasted longer than usual. Chinese producers of pickled cabbage turned their attention to the Chinese cabbage market when the prices in Korea began to rise. This increase in market demand further stimulated the price of Chinese cabbage.

In short, the overall supply volume declined, frequent rainfall delays the growth of cabbage and complicates the harvest, and demand from processing factories increased. That is why the price of Chinese cabbages is rising. The price is estimated to remain at this level, though small fluctuations are expected. However, extreme weather conditions could cause another price rise.

Source: Jinri Toutiao

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