Recently, the overall price of vegetables in the Xinfadi wholesale market in Beijing has risen. There are three main reasons for the price increase. First of all, there has been a large-scale cooling of the weather and more precipitation across the country recently. Cooling and insufficient light have led to a slowdown in vegetable growth and a decline in yield. Secondly, with the Spring Festival approaching, people have strong demand for off-season vegetables, wholesalers and retailers are actively stocking up, and the purchase price of the vegetables at the sources has risen.
At the same time, there have been sporadic outbreaks of the pandemic recently. Drivers are inconvenienced when they pass through medium and high-risk areas without paying attention. Therefore, some drivers are ready to go back to their hometown for the Chinese New Year, and they are unwilling to enter Beijing, leading to higher freight rates. Depending on the transportation distances and models, there are increases of 0.02-0.2RMB/kg respectively. In the overall weighted average price, 0.04-0.06RMB/kg is driven by the increase in freight prices.
Vegetables whose prices have been affected are mainly solanaceous vegetables, and the main representative varieties are cucumbers, tomatoes, peppers, and zucchini which have all risen in the last week. The reasons for the rise are also the same as last week. However, merchants in the Xinfadi Market believe that the prices of these types of vegetables have basically reached their peak this week, and the restraining effect of prices on demand has begun to appear. Round eggplants and beans were also affected. .