Fresh Cabbage Prices in China Increased 50% Over the Past Two Weeks Owing to a Special Custom in the Northern Regions

The wholesale price of fresh cabbage in Wuzhong, China, has increased by 10% WoW in W46 following a 25% increase in the previous week, owing to a special custom in northern China. Given the bumper harvest, the wholesale price of fresh cabbage is expected to fall in Q4-23.
The wholesale price of fresh cabbage in Wuzhong, China, increased by 10% week-on-week (WoW) in W46 to USD 0.12 per kilogram (kg) following a 25% increase in W45. This resulted in a total increase over the past two weeks of 50% with the price increasing from USD 0.08/kg in W44 to USD 0.11/kg in W46. However, a yearly comparison shows that the price is still 37.56% lower than in W46 of 2022. The recent price increase is driven by a special custom in northern China, which involves storing autumn vegetables. As the temperature drops, people buy and dry vegetables, mainly cabbage and green onion, to prepare for the cold winter. The strong demand during recent weeks resulted in the price hike. However, the total supply of fresh cabbage in 2023 has increased compared to 2022 due to favorable weather during the cultivation periods. Thus, the monthly average prices from Aug-23 are lower than in 2022. Despite a recent price rise, Tridge expects that in the upcoming period, the wholesale price of fresh cabbage will decrease again due to the bumper harvest.