In late March, vegetable prices in Harbin decreased by nearly 20% month-on-month.

China Development Network News: In late March, due to increased supply, falling demand, the continuous market release of stored vegetables, and vegetables from real estate greenhouses, vegetable prices in Harbin have continued to decline, dropping nearly 20% month-on-month.

According to price monitoring data, on March 25, the average retail price (per 500 grams) of 22 monitored vegetable varieties was 3.73 yuan, down 0.27% from yesterday, 2.86% from last week, and 17.48% from last month. Compared to last month, the average prices of these 22 vegetables show a trend of “21 down, 1 up,” with varieties such as spinach, celery, chives, cabbage, green peppers, tomatoes, garlic sprouts, eggplants, water cucumbers, Chinese cabbage, rapeseed, chili peppers, cauliflower, carrots, zucchini, and bitter melon decreasing by 38.87%, 29.67%, 37.04%, 25.13%, 19.52%, 23.71%, 18.70%, 15.42%, 31.06%, 11.36%, 18.99%, 31.91%, 11.08%, 18.84%, 17.07%, and 13.82%, respectively.

The reasons for the price decline are: first, increased vegetable supply, with large quantities of spring vegetables from southern open-field planting areas and greenhouse vegetables from northern regions entering the market simultaneously, leading to concentrated supply. Additionally, locally stored vegetables and leafy greens from greenhouses are being sold in bulk, ensuring ample market sources. Second, logistics costs have decreased. As temperatures rise and road conditions improve, transportation efficiency for out-of-town vegetables has increased, and the need for high-cost anti-freeze packaging has been eliminated, directly reducing logistics expenses and prices. Third, demand has returned to normal; after the holiday, catering and group purchasing demand has stabilized, residents’ stockpiled goods have been consumed, and market procurement is mainly for daily needs. Overall demand has significantly weakened compared to the Spring Festival period, leading to a loosening of supply and demand. Additionally, competition between large supermarkets and community fresh stores has also contributed to the reduction in retail prices.

Overall, the decline in vegetable prices is a normal market adjustment during the transition from winter to spring. As local greenhouse leafy greens and fruit vegetables continue to enter the market, vegetable prices are expected to keep decreasing. (Liu Wenman)

【Source: China Development Network】