Produce is overtaking property as the best way to make money.
Price of beans climbed to 26-30 yuan a kilogram from 8-10 yuan, while garlic hit 20 yuan a kilogram, Southern Metropolis Daily citing the Guangzhou Price Bureau on May 12.
Besides garlic, the prices of other agricultural products have increased greatly in the past several months. Prices of 48 vegetables rose in Guangzhou, out of 77 vegetables whose prices are tracked, and those of 15 more than doubled.
Some traders use cold storage to pile up stocks, and sell when the prices are high enough. Garlic, ginger, spices, and beans are among investors' targets.
Capital is switching to produce as the stock market is getting bearish and real estate is facing policy regulations. Prices are strongest for those most in demand, produced in limited scale or suffering natural disasters, said Ma Wenfeng, an analyst at Beijing Orient Agribusiness Consultant Ltd.
Go to Forum >>0 Comments