What Can We Do When Facing This Unusual Market? Vegetable Prices in China Skyrocketed by 100%, Then Dropped by 40%February 6, 2020
The coronavirus is still raging in China, and the vegetable market is very difficult. Prices skyrocketed on the third and fourth day of the Chinese New Year, when the average price of leafy vegetables in South China was close to 10 yuan/kg. In addition to cabbage and kailan, other varieties including long storage life leafy vegetables also fluctuated from as low as 20% or 40% to as high as 100%.
Compared to the skyrocketing prices in the south, prices of gourds and eggplants in the north didn’t rise much, or even dropped for most varieties. Zucchini, quince, long eggplant, round eggplant, and snow peas experienced an average price drop of 2-4%, but the price of white radish skyrocketed to 5 yuan/kg.
However, with the increase in market supply, the prices of some vegetables in the wholesale market have fallen back. The earlier surge in vegetable prices can be attributed to labor shortages and obstacles in transport. At present, the prices of some vegetables are falling sharply, and the prices of many have quickly returned to the levels before the Spring Festival.
The decline in prices is closely related to the current coronavirus situation, which is mainly reflected in two aspects – the resumption of business was delayed, so people are currently still on holiday, and to the fact that many catering businesses are not open, including fast-food restaurants.
By Fresh Plaza