CHINESE GARLIC - NEW CROP UPDATE

 

 

May 10th 2021

Harvesting of new crop garlic has started in China in the Henan province. Experts in the field tell us that the yield will definitely will be less compared to 2020. Jinxiang county (southwestern Shandong province) will start in some 2 weeks from now.
Also here the yield is foreseen to be lower compared to previous season. With Jinxiang being the main growing area this gives us a good indication of the total crop from China for this year. Prices have firmed up with 5-7% in a week’s time already. Exporters tell us that due to strong local demands they foresee room for further increases of about 20% during the coming weeks/months (abt. us$500.=/mt). The strong Renminbi and high freight rates are additional headaches for importers of (dehydrated) Chinese garlic.
We urge our customers to be in time for covering new crop requirements. Chinese garlic speculators are known for having deep pockets, some reports tell us that they have started building up positions already. 

Chinese garlic prices have begun to fall

From The Fresh Plaza

Source: Voice of Chinese Villages

Publication date: 8/8/2019

The overall garlic price in 2019 rose in northern China. According to Xie Lei, an analyst at the Beijing Xinfadi Market, since May, prices of the new crop sold at the market have increased by 104% over the same period last year. In the following two months, prices continued to rise, only starting to fall recently.

Recently, the wholesale price at the market stayed at 8.4-9.6 yuan/kg, up 200% year-on-year compared with that of 2-4 yuan/kg during the same period last year. In the last 2-3 weeks, prices at the market became less stable and started to drop. As the stockpiling season will reach an end in August, many growers are rushing to sell, leading prices to start declining recently.

For garlic growers, the quality of garlic not yet in storage will decline by the beginning of autumn, accompanied by a lack of purchasers, so it is also the final opportunity to sell.

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