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China: Tomato price in Xinfadi Market drops by more than 20%

The price of tomatoes finally came down. Data from the Xinfadi Market in Beijing shows that the current price of tomatoes is between 1.2 and 2.7 yuan [0.17-0.39 USD] per 0.5 kg, which is a decrease of 22% in comparison with last week.

Liu Tong, data analyst at the Xinfadi Market, states that the price of tomatoes has shown an obvious downward trend recently. There are three main reasons for this development: first, tomatoes from Tai'an, Shandong, have begun to enter the market, which increased overall supply. Second, the overall price of vegetables has recently been relatively low. The price of tomatoes was still one of the higher prices, but consumer demand gradually shifted to other vegetables, which slowed down tomato sales. Traders say that tomato trade is "stuck". Third, tomato harvest has also begun in Shouguang, Shandong. It will take another month before the tomato supply from Shouguang enters the market, but already the pressure on the market price of tomatoes increases. The price is likely to continue to drop as the tomato supply from Shandong grows.

Source: Beijing Evening News

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