China: Lanling, Shandong - vegetable prices falling

According to the Lanling Shandong State Administration for Commodity Prices, the overall vegetable price in Lanling has been rather stable over the last week. However, compared to last month, the prices of many different vegetables have dropped. The Lanling State Administration for Commodity Prices has found that there are two reasons for this drop in price.

Firstly, the market supply has gradually increased. On 24 October, the overall Lanling vegetable trade comprised 3.64 million kilogram. This is an increase of 12.15% from last week's 2.35 million kilogram, and a growth of 78.87% compared to last month's 1.51 million. As more autumn vegetables are entering the market, the market supply is abundant, salvaging the previous problems where there was not enough supply to satisfy the demand. The price is now gradually going back to normal. The vegetables on the Lanling market are mostly Chinese lettuce and green peppers. Chinese lettuce is the main autumn vegetable, its supply increasing by the day.

Secondly, the market demand is slowly decreasing. Because of this month's national holidays, the market demand was growing. Now that the holidays are over, the demand is returning to normal.

The market supply is now abundant, but as the temperatures drop in the near future, the Lanlang vegetable supply will decrease. It is estimated that the vegetable price will gradually stabilize.

Source: Lanling Shandong State Administration for Commodity Prices

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