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Chinese potato prices hitting new lows

Potato prices have been falling since October. Wholesale prices of products from Shandong are 1.2-1.7 yuan per half a kilo, and those of products from Inner Mongolia are 0.9-1.05 yuan. As a result of the good market in the first half of the year, the planted area this year has expanded, and prices in some producing areas hit new lows. Currently, on the one hand, products are flooding onto the market; on the other hand, the quality of supply from various regions has improved significantly.

Last year, high-quality potatoes were marketed at 0.9-1.1 yuan/half a kilo. As good-quality products were scarce at the time, potatoes from Inner Mongolia enjoyed certain advantages in pricing. This year, the quality of potatoes in many producing areas has improved. As a result, the overall price of high-quality potatoes from Inner Mongolia this year is lower than last year by 0.1-0.05 yuan/half a kilo.

It is worth mentioning that some products marketed in Shandong in the past years are from Inner Mongolia. Some of these potatoes were first shipped to Shandong, and then sorted and processed locally and sent to local markets. The main reason for this is that prices of storage potatoes in Tengzhou are too high and after the quality of Inner Mongolia potatoes improved, the price of these potatoes is under pressure. As a result, when the market is not good, potatoes from Tengzhou would keep in cold storage.

Another reason for the current decline in prices is that with the increased planted area, potatoes from Northern China are flooding onto the market. In the near future, with the temperature in the north dropping, the crop will be put into storage. With the added storage cost, prices may rise slightly.

Source: Chinese vegetables

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