GUANGZHOU: Soaring vegetable prices will continue to affect consumers in the coming few weeks in South China's Guangdong province.

"The retail price of vegetables has recently risen by about 30 percent from a year ago. However, further price rise is not expected," said Li Jiajian, deputy general manager of Guangzhou Jiangnan Fruit and Vegetable Wholesale Market, one of the largest fruit and vegetable wholesale markets in Guangzhou.

"The situation in other Pearl River Delta cities or other cities in the province remains same," Li added.

Talking about the reason for soaring price, Li said torrential downpour triggered by Typhoon Fengshen last week and the month-long rainstorms late last month inundated vast areas of vegetable farms in the province as well as in the neighboring provinces in South China.

"The downpours not only inundated many of the vegetable farms, but the sowing time is also affected," he said.

"I don't think the high vegetable price will edge down at least in the coming month," he added.

"More than 67 hectares, or over half of our base, were flooded and the total loss of our base must have far exceeded 1 million yuan," said an executive with Yongji Agriculture Developing (Huizhou) Co Ltd, who identified himself with the surname Chen.

Yongji primarily supplies vegetables to Hong Kong.

Statistics from Huizhou Entry-Exit Inspection and Quarantine Bureau indicate more than 2,000 hectares of vegetable farms in Huizhou were inundated in the month-long rainstorms and floods.

Pearl River Delta region was also badly hit by the inclement weather.

The storehouse of Nescafe's manufacturing base in Dongguan was inundated due to heavy rains.

"With so many finished products and raw materials in the warehouse at that time, the total losses must surpass 100 million yuan," a local newspaper quoted a department supervisor of Nescafe Dongguan as saying.

"The prolonged rainstorms and floods affected 5.67 million people in 62 counties and cities in Guangdong province with direct economic losses totaling up to 5.28 billion yuan," said Yang Minyi, a publicity official with Guangdong Flood, Drought and Wind Prevention Office. "And the losses due to Typhoon Fengshen are still being assessed."

Meanwhile, Yin Ping, an executive with AIU's Guangzhou branch, suggested that people should consider more about buying property insurance.

"Extreme weather is affecting the region more often than ever before," she said. "Property insurance can help minimize the losses in case of unexpected bad weather."

(HK Edition 06/30/2008 page1)