Price of Chinese Carrots Surges due to Low Production

The wholesale price of Chinese carrots increased by 52.18% YoY. The price of carrots in China sold at USD 0.63 per kg in W4 Dec 2021, compared to prices the year earlier, which were at USD 0.41 per kg. Heavy rain and cold weather led to a disruption in carrots production in China. Demand for carrots in the upcoming spring festivals increased, leading the price of Chinese carrots in December 2021 to surge. This eventually will lead Chinese carrot export prices to also increase, aligning with Hong Kong as the leading importer. Hong Kong also experienced an increase in carrot price by 12.53% YoY in December 2021.