"Garlic speculators" gets hot on China's internet

13:58, May 11, 2010      

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Vegetable prices have increased substantially in most cities, following bad weather in many parts of the country since November last year, latest statistics from the Ministry of Commerce showed.

The wholesale price of Garlic, for instance, has been increasing more than 100 times in last two years. Now, people have to pay 19 yuan for a kilogram of garlic, but the prices of pork and eggs are only 13.96 yuan and 6.80 yuan per kilogram.

"The price hike in garlic was mainly caused by hoarding and profiteering," said Yang Guoqing, general manager from a local farm products company in Guangzhou.

"A businessman from Northeast China wanted to stock up on large amounts of garlic with me in advance last year. I refused since I felt it was very risky, but he still earned more than 1 million yuan this year," he said.

People who are alike with that businessman is called "garlic speculators", and the word, which was so popular last year, became one of top ten hottest words on China's internet.

By People's Daily Online

(Editor:王寒露)

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