Bad Weather, Bad News

It’s really a tough year for agricultural products! After suffering El Nino and La Nina in succession, farmers are miserable and the situation of beans is also not optimistic.

In June, during sowing, heavy rain and hail attacked, which increased the difficulty of planting progress, and the sprout deficiency phenomenon was obvious;

In August, during growing seasons, the precipitation in western Heilongjiang, northwest Jilin and northeast Inner Mongolia was less than 100mm which decreased by about 50% to 80% compared to the former year; besides the highest temperature in Inner Mongolia makes a new record. Little rain and high temperature occurring in the same period also lead to severe drought in western Northeast China and eastern Inner Mongolia.

In September, during harvesting there’s more rain in Eastern Inner Mongolia and Northeast China, even some rainstorm which makes harvest difficult to carry out. The continuous rainy weather makes the time to market of new crop delayed and the quality little worse than before. Some beans may sprout in the fields. Besides, the quantity may decline.

According to our estimate, the initial price of the product may increase a lot. Moreover, though the price will tend to be stable after the new crop coming to the market, the price of some products maybe still very higher than former because of the less quantity.

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This article takes reference from mp.weixin.qq.com.