Chapter 396: The Food War Ends
Due to the sell-off of grain merchants from other places, countless affordable grains flowed into the Nanyang market, benefiting the common people.
At this time, the people were like happy hamsters, actively hoarding food.
"No wonder Master Ji asked us to buy food per household or per person. It turns out he wanted us to save money to buy cheaper food."
Beautify, beautify all the actions of Ji family and Liaodong Chamber of Commerce.
Moreover, after grain merchants from other places began to sell grain at low prices, the number of people who went to Ji's branch to buy grain decreased by more than 90%.
On the first and second days, neither the Ji family nor the Liaodong Chamber of Commerce made any move. On the third day, after the people's purchases had noticeably slowed, they began to secretly and orderly consume the grain sold by the foreign grain merchants.
Runan
The news that the Ji branch had lowered the price of grain to 100 wen per dou reached Xie Zhan's group. Although the price drop from 120 wen to 100 wen was not much, they were still shocked by the other party's generosity.
"They must be losing a lot of money selling grain at this price, right?" Xie Bai didn't understand business, he just felt that the other party must be losing a lot of money selling such a large amount of grain at such a low price.
Gu Huaisheng said, "In fact, they didn't lose too much." He understood the principle of the Ji Liao Alliance of buying high and selling low.
People who don’t understand business think they have suffered huge losses, but they don’t know that in the end, they may even make money.
Xie Zhan: "The game between the Yuzhou Grain Merchants Association and the Liaoji Alliance is nearing its end."
At this point, the Yuzhou Grain Merchants Association was clearly on the verge of defeat. The Liao-Ji alliance had lowered grain prices twice in a row, demonstrating its dominance.
Now the Ji family trading company and the Liaodong Chamber of Commerce Alliance have directly raised their sickles to reap the harvest.
Gu Huaisheng said, "The Ji Liao Alliance should be taking in grain, otherwise grain merchants from all over the country would not be able to ship so quickly."
Xie Nan looked at Xie Zhan, "Master, should we follow?" They currently have nearly 1.5 million taels of silver in their hands.
Xie Zhan nodded and said, "I can keep up." Nanyang and Nandi are not far apart. He calculated the transportation cost and felt that they would not lose money if they bought it at this price.
The Ji family business and the Liaodong Chamber of Commerce Alliance sold grain at a low price of 100 wen per dou for seven consecutive days. On the eighth day, they announced another price reduction, and their grain was sold at 90 wen per dou.
"Impossible! Absolutely impossible! Where do they get so much food?"
Che Jiu Ming went completely crazy.
In addition, all the grain merchants who resisted were driven crazy.
Their hearts were shattered. The market was getting colder and colder, with no sign of recovery. All their persistence had become a joke.
The grain merchants who had previously cut their meat looked with sympathy at the unfortunate ones who had not escaped.
In a situation like Nanyang, it is always right to leave at any time.
In fact, the ones who suffered the most were some members of the Yuzhou Grain Merchants Association, who were considered to be Che Jiu Ming's supporters.
These people all went bankrupt.
For example, when Shopkeepers Lin and Mo were about to go bankrupt, they listened to Che Jiu Ming's words, borrowed money from relatives and friends, and begged for help from everyone. They borrowed 20,000 to 30,000 taels and gave them to Liu's Money House as a deposit.
This time, the Ji-Liao Alliance once again announced a price reduction for grain. They were really at the end of their rope.
They were unable to raise the money to make up the deposit, and when the deadline came, the manager of Liu's Bank personally brought a team of people and asked people from the government office to be witnesses, and directly took away the collateral of managers Lin and Mo - their grain.
This also means that Shopkeepers Lin and Mo have gone bankrupt.
The Lin and Mo family members cried their hearts out.
The onlookers felt that they were both pitiful and hateful. They would never forget that the Yuzhou Grain Merchants Association had initially planned to sell grain at a high price and leave them no way to survive.
Then, a horrifying thing happened. When the second son of the Lin family came to the Liu family bank to count the grain, he went to the Che Mansion with a sharp dagger. After seeing Che Jiu Ming, he stabbed him and escaped.
Che Jiu Ming was stabbed three times and lost too much blood. He died before the doctor arrived.
The Che Mansion was leaderless, and during the period of mourning, Madam Che, under the guidance of a "master," decided to sell over one million dan of grain from the Che Mansion. Just then, the owner of the Liu family bank, Liu, arrived, showing the contract and demanding repayment. Madam Che had no choice but to allocate one million dan of grain to him to pay off the debt.
Because the Liao-Ji Alliance indirectly caused Che Jiu Ming's death, Madam Che did not want to deal with the Liao-Ji Alliance.
Ji Wuyin and the others didn't care. When the government office sold off grain, they used Ji's branch to guide the price to below 85 wen, and then secretly bought it.
Ordinary people are also trying hard to eat it.
Xie Zhan and his group were not idle either.
Such a brutal price war frightened the last batch of foreign grain traders who still had grain in their hands.
The current price of grain is 85 wen per dou, and they are really losing money. Some people want to wait until the leased warehouse expires, then ship the grain back, or ship it to other places to sell, so that they can at least get a better price and avoid such a huge loss.
Then, news came that several grain merchants who had previously left by land with grain were robbed and lost both their lives and their property, so everyone shuddered.
They decided to sell the food they had on the spot and not make any more trouble.
They failed this time, so they just accepted it.
When I thought about all the foreign grain merchants who came to Nanyang and found that they had failed, and that I was not the only one, I felt much better.
As the saying goes, as long as the green mountains remain, there will be no shortage of firewood.
The Liao-Ji alliance is obviously very powerful, and it is useless to continue to fight with it.
Keeping this grain in hand will require storage fees and manpower supervision costs, which will tie up funds.
By the next year, the grain they have will be stale. They don't know what the harvest will be like next year. Nanyang has always been known as a granary. If there is a good harvest next year, the grain they have will be even cheaper to sell.
By selling it now, at least I have freed up some funds. I can then see about doing some other business to make back the losses this time.
At this point, the price war in Nanyang between the Liaodong Chamber of Commerce and the Ji's Trading Company alliance came to a perfect end.
The people of Nanyang bought a lot of grain at the lowest price ever and stored it. Some wealthy families had already stored enough food to last them until the next summer harvest.
In addition, the grain store of the Luoyang branch of Ji's business will remain open, providing the people with affordable grain at one hundred coins per dou. Now, the grain price in Nanyang has been completely stabilized.
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