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Chinese chili wholesale prices won't fall significantly in coming weeks

Prices of thin-skinned chilis from Hubei, Inner Mongolia, and Zhangbei on the market are relatively stable this year. Wholesale prices have been staying at 70-90 yuan per box (28 kg per box, the same below) with increases over recent days. Products from the three major production areas differ in quality - those from Hubei are the best in quality, and the price per box has again exceeded 100 yuan; products from each production area have seen an increase of 10-15 yuan per box.

The increase in prices is mainly due to a few factors. First of all, the planted area in the summer this year, as a whole, is smaller than last year, and the production areas in Hubei suffered severe disasters during the flood season. Secondly, Hebei and Inner Mongolia have seen continuous recent rainfall and the growth of the crop has slowed down. Moreover, according to customers in Inner Mongolia, part of the local crop has entered the late season and the market volume has decreased. These factors have contributed to the rise in prices this week. It is expected that wholesale prices will not fall significantly in the coming weeks.

Source: Toutiao

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