China: Shandong tomato prices falling dramatically

Since the end of October prices for tomatoes have been dropping continuously in Yi'nan county, Shandong province. The price for fresh first-class tomatoes has dropped from 4.6 RMB (0.59 EUR) to 3.2 RMB (0.41 EUR) per kilogram, and later even fell to 0.6 RMB (0.08 EUR) before rising back up to 3 RMB (0.38 EUR). The highest decline in value was 34.78%. The price for tomatoes of mediocre quality dropped to less than 2 RMB (0.26 EUR) per kilogram.

The main reason for this huge drop in the price of tomatoes is the recent reduction in purchases by vegetable traders. This has caused a huge amount of tomatoes to pile up on the local market waiting to be sold. Under these conditions, the relationship between supply and demand has changed, so the general price level was pulled down.

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