Big harvest means lower cabbage prices
Updated: 2011-04-21 17:23
By Hao Yan (chinadaily.com.cn)
An abundant harvest for Chinese cabbage dropped prices to 0.08 to 0.16 yuan ($0.01 to 0.02) a kilogram in Qingdao in eastern Shangdong province, 21st Century Business Herald reported Thursday.
Stored Chinese cabbage currently sells for 0.04 yuan a kilogram, the buyer told the newspaper.
Businessman Huang Wei stored 600 tons of Chinese cabbage he purchased for 1.6 yuan a kilogram last fall, expecting a price surge during this year’s Spring Festival. But the price was only 0.3 yuan during the festival. Huang gave his cabbage to the freezer storage owner, rather than pay the high cost of loading and transportation his unwanted produce, the report said.
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