The wholesale price of bok choy in the Xinfadi Market is currently 0.25-0.35 yuan [0.04-0.05 USD] per 0.5 kg. This is a price decrease of 7.69% in comparison with last week's price of 0.3-0.35 yuan [0.5 USD] per 0.5 kg. The price of vegetables from winter storage should increase over time as the amount of storage fees and product loss adds up. However, the price of bok choy did not rise, but fell instead as the pressure to sell bok choy grows.
The product quality of bok choy from Yutian in Tangshan, Hebei, is famous and much of the bok choy in winter storage came from Yutian. But now the bok choy from Yutian is sold out. The remaining bok choy came from secondary production areas and the product quality is not as good as the bok choy from Yutian. This is one reason why the price dropped.
The new harvest of bok choy from Qingzhou in Shandong will enter the market in April. This adds further pressure on the bok choy in storage.
