According to new data from the Xinfadi market, the early season vegetable prices have hit a five year low, even worse than in 2014. The emergence of this low price is actually caused by a continuous 50-day decline.
Why do multiple vegetables have the same situation at the same time? Affected by high temperatures and heavy rainfall, many vegetables in have seen significantly reduced production this summer, with fewer quality products and higher prices. Some vegetables were delayed due to extreme weather, resulting in a shortage in supply. Combined with the effect of October 1st Golden Week holiday, the highest vegetable price in China for the past 5 years appeared in October.
As the weather gets colder, the price of vegetables on the Beijing market will start to rise. There are three reasons for this increase. One is the increase in the transportation and preservation costs of southern vegetables; the second is the increase in the cost of vegetable production in greenhouses in the north; and the third is the increase in the storage costs and the loss of winter storage vegetables. The rate of increase will be relatively smooth.
Source: Legal Evening News