| Mung Bean Conspiracy! | |
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| Jul 18, 2010 03:40 |   |
 | You may not believe that mung bean price in China has increased madly since last year. In Beijing, the price has quadrupled. It was 18.4 yuan per kilogram last month. Now it has decreased to 8 or 9 yuan per kilogram. Why? The government has investigated and found out that the mung bean is another case of price-collusion scam. A trading house in Jinlin Province united with other 100 mung bean dealers to spread false information that mung bean production last year was very low. Then they hoarded a lot of mung bean and waited for the price increase. Thus, they could make a lot of money. Currently, their “Mung Bean Conspiracy” has been exposed. The trading house was fined 1 million yuan and other 100 mung bean dealers were warned too. And the Anti-Monopoly Office and the Market Price Supervision Office have been launched to “control monopolistic behavior and curb market manipulation.” The Mung Bean Conspiracy has ended. But what about the garlic? It is already more expensive than meat. |
| Jul 20, 2010 02:50 | #1 |
| Jimmyb, the trading house and other two companies were fined 1 million yuan. However, they said that they were wronged. They also said that they were not going to pay the fine. The NDRC (National Development and Reform Commission) made an announcement that these three companies would be punished more severely if they didn't pay the fine in time, The fine will be increased by 3 percent if they didn't pay the fine before the deadline. The NDRC is "beating the dog in front of the lion". The purpose is to warn other corporations not to jack up the prices. Otherwise, they will be fined too. The garlic price has increased to around 13 yuan per kilogram. Don't know when the prices will go down. |
| Jul 22, 2010 04:44 | #2 |
| It seems that this remedy didn't work well. The mung bean price in Jilin has increased 1.8 yuan just in three days. It is estimated that the price will go up to 16 yuan per kilogram. |
| Jul 24, 2010 06:47 | #3 |
| What about garlic? It is grown locally around the country by peasant farmers: there is no way anyone could manipulate the market. On a related note: when I visit my family in the UK I normally take a kilo of garlic as it is so expensive there, maybe 50 times the price in China. Most hs been sourced from Europe and in my mind is inferior, just small bulbs, but I have just noticed there are now cheaper imports from China creaping in :) |
| Jul 24, 2010 23:00 | #4 |
| I just know that the garlic is mainly grown in Shandong Province, to be accurate, in Jinxiang. Yunnan Province also produces garlic. Yunnan was attacked by the drought in May and June. Thus, the production was affected. On the other hand, the planting areas of the garlic have reduced a lot. In previous years, the garlic was sold less than 1 yuan. That’s why some people give up planting garlic. And China is the biggest garlic exporting country. The garlic price in China is surging. No wonder the price in foreign countries are sky-rocketing too. |
| Aug 9, 2010 02:04 | #5 |
| GUEST5166 | I am worried. It seems that the prices of mung bean and garlic are manipulated by some people. Will they manipulate the prices of wheat, rice and vegetables? In this case, administrative interventions are necessary. |
| Aug 9, 2010 04:30 | #6 |
| When I can't afford them, I will let them being of my own produce, both healthy and environmentally friendly...  |
| Aug 25, 2010 23:16 | #7 |
| GUEST5338 | The ginger price has been increasing too. In the future, the prices of wheat and rice will go up. Just be prepared. |
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