The September quarter of 2024 has seen a notable rise in the wholesale price of total vegetables, reaching $5.07 per kilogram, up from $4.09 per kilogram in the same period last year. This represents a significant year-on-year percentage increase of 23.9%.
The fluctuations in total vegetable prices over the past year have been substantial. In the third quarter of 2023, the market experienced a decline of -23.9%, followed by a further drop of -7.9% in the fourth quarter of 2023. Notably, prices were particularly low in the September 2023 quarter due to recovering production generating a supply flush. This set up the significant price growth in the September 2024 quarter, which is considered a return to more typical pricing levels. Recovery began in early 2024, with notable price movements of 11.6% in the first quarter, 19.3% in the second quarter, and an increase of 23.9% in the third quarter of 2024.
Among the various vegetable categories, the top five experiencing the most significant price increases in the September quarter include cabbage, which surged by 76.3%, followed by broccoli at 57.3%, sweet corn at 50.4%, cucumber at 49.3%, and capsicums at 48.7%.
Conversely, the five vegetables showing the least price changes include asparagus, which declined by -14.6%, salad leaves down by -9.7%, eggplant falling by -7.2%, mushrooms decreasing by -4.6%, and potatoes exhibiting a slight increase of 2.6%.
This analysis illustrates the volatile nature of the vegetable wholesale market, characterised by varied price movements across different categories. The overall increase in vegetable prices highlights ongoing market pressures and could influence consumer purchasing behaviours.
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