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China: Jinxiang garlic market shows signs of recovery
Garlic prices in the Shandong market continued to fall between 4-10 December, while the trade volume increased. The trade quota decreased slightly. In the first four days of last week the price of garlic dropped from 4.20 yuan [0.63 USD] per 0.5 kg on Sunday to 4.05 yuan [0.61 USD] per 0.5 kg on Wednesday. This is an overall decrease of 4%.
On Friday the merchants with stores of garlic sold with less enthusiasm because the price was falling, while the merchants who select and purchase garlic became more enthusiastic, so the price has started to recover. The selection and purchase of garlic is primarily for domestic distribution and for factories who process garlic in manufactured goods. The export volume has increased to some extent, but the enthusiasm of merchants with stores of garlic remains low as last week the overall price showed a decline.
Source: Department of Commerce, office of the correspondent stationed in Qingdao
Publication date: 12/19/2017
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