China: Locked in garlic stocks push garlic price up

From June, the garlic price has seen a clear drop. New statistics from the Beijing Xinfadi Market show that at the beginning of June, the garlic price was 3.4-5.6 yuan/kg. That is a drop of 35.71% compared to the week before, and a decrease of 57.14% compared to the same period last year.

At the beginning of June, the majority of garlic from northern China had all been turned into dried garlic, and was continuously entering the market. The garlic price then quickly dropped. However, now that it is time for garlic to be stored, a certain rise in price can be seen.

According to data from the International Garlic Trade Network, by the end of June, the price had increased by approximately 30% compared to earlier that month. "This is mainly because storage owners have started to accept large quantities of garlic in June. This helps to push the price up," states Li Jifeng, founder of the International Garlic Trade Network. The majority of farmers are also becoming more reluctant to sell their produce.

To read the original article (in Chinese), click here.

Source: Shanxi Farmers Daily (Taiyuan)