China's crayfish prices plunged 70% in a month

Published Apr 30, 2024

Tridge summary

China is experiencing a hotter climate, marking the start of the crayfish sales season, but the market has seen a dramatic price drop of nearly 70% for the crustaceous food, with prices falling below 10 RMB/jin in regions like Hubei and Jiangsu. This decrease is primarily due to reduced market demand. As a result, both wholesalers and retailers have adjusted their prices, offering crayfish at significantly lower rates compared to earlier in the month. The price drop has been further fueled by economic challenges such as wage cuts and layoffs, leading to decreased demand for seafood and impacting the crayfish industry. This situation is part of a larger trend where the crayfish catering market in China has seen fluctuations, with the number of registered companies experiencing peaks and declines throughout the years.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Epoch Times April 29, 2024] (Epoch Times reporter Liu Yi reported) China's weather is getting hotter, and crayfish is in the peak sales season again, but the current crayfish price has fallen by nearly 70% compared to early April this year. Some industry insiders said that the decline in market demand is the main reason for the price drop. Currently, the wholesale price of ordinary crayfish in crayfish producing areas such as Hubei and Jiangsu has fallen below 10 yuan (RMB, the same below)/jin (500 grams). Li Hai (pseudonym), a crayfish wholesaler in Jingzhou, Hubei, revealed to China Securities Journal on April 27: "Currently, the products on sale are farmed crayfish. The wholesale price of small green crayfish is 8 yuan per catty, medium green crayfish is 12 yuan per catty, and large green crayfish is 28 yuan per catty. The price is very low now. At the beginning of April, the price of small green crayfish was still more than 20 yuan per catty. In one month, the price has ...
Source: Epochtimes
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