Mung Bean Prices Began To "Dive", A Drop Of 23.91%.

China Securities Daily reporter learned from the Beijing Yuquanlu Road grain and oil wholesale market that after entering the June, the price of mung beans began to plunge sharply, which dropped by 24% compared with the same period last month.

Since the second half of last year, the price of miscellaneous grains has increased significantly under the impetus of drought reduction. Among them, since September last year, the price of mung beans has continued to rise. Last year, the price of more than five yuan per kilogram last year reached the highest level of nearly 19 yuan per kilogram this year, or 3 times.

It is understood that the main production area of mung bean is the three northeastern provinces and Inner Mongolia. Due to the droughts in the main producing areas last year, the total output of mung bean decreased significantly, and the market was generally bullish.

Liu Jingliang, the head of Yuquanlu Road's market information department, said that in early September, mung beans began to move up, but the increase was not great at that time. After October, the market began to really ferment with the advent of new green beans. "Mung bean is a strong seasonal variety, especially this year, with the arrival of summer demand season, the increase in the past two months is more obvious.

However, at the beginning of May, when the price of mung bean reached a record high, the market was gradually lowered under the leading factors such as high price, slow sales volume and increased risk coefficient. Wholesale price at the beginning of last month was 18.40 yuan per kilogram, the wholesale price at present was around 14 yuan, down by 4.40 yuan, or 23.91%.

According to the dealer, the apparently high price of mung bean also affected some demand, with little profit and increasing risk. Recently, the imports of mung beans from Vietnam and Burma are much cheaper than northeast mung beans, and they also impact the domestic market.

Liu Jingliang believes that the high price of mung beans this year will help increase planting area, which is beneficial to increase production. This factor will also have some inhibitory effect on the trend of mung bean Market in the most important historical position. The sharp reduction of mung beans this month also indicates that the driving force for continued growth has weakened. In addition, the price of other coarse cereals has started to rise and become stable since the beginning of this month.