Prices may show seasonal decline

Sufficient vegetable supply in China in fourth quarter

In September, the national average wholesale price of 28 types of vegetables monitored by the Ministry of Agriculture and Rural Affairs of China was 4.78 yuan per kilogram, up 3.5% month-on-month and 21.9% year-on-year. Among them, the price of 19 types rose and 9 types fell. A supermarket salesperson said that prices of eggplant, lettuce, and green beans rose by 20%, and those of tomatoes and bell peppers also rose.

Zhang Jing, Chief Vegetable Analyst of the agricultural product market analysis and early warning team of the Ministry, said that two factors have contributed to this increase. First, the adverse weather in the summer has led to a slower-than-expected recovery of production in the disaster-affected areas in Southern China. Secondly, vegetables are often rotated in summer and autumn and problems encountered with some vegetables drove up the overall price.

Regarding the vegetable supply situation in the fourth quarter, experts say that in September, vegetables in the disaster-affected areas in Southern China were in the final stage of the season, so the overall impact on the later national vegetable production was relatively small. After urgently planting the seedlings, these areas have gradually resumed production and increased their supply of autumn vegetables. The supply in October is sufficient and the overall supply is expected to stay so in the foreseeable future, and prices are expected to show a seasonal downward development.

Source: Sina Finance Headlines


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