The specialized garlic market in Jinxiang celebrated the autumn harvest and the autumn planting season festival last week. Garlic farmers have very little stock left, which they are happy to sell off, because the garlic is beginning to sprout. Some of the large garlic bulbs are more sprout than garlic and farmers are happy to get rid of them. The garlic planting season began on September 28th. Sales increased with leftover garlic and garlic shoots. The overall market supply volume increased. The price of garlic shoots also increased as more and more are bought for storage.
This week's garlic market conditions are as follows:
1. The garlic planting season has officially begun and will last until around October 20. During planting season fewer people come to the market and the trade volume will likely decrease, although the volume of leftover garlic and garlic shoots may increase.
2. The Jinxiang garlic slice processing industry already stopped operations on September 29. It is not yet clear when operations will resume. The garlic slice industry has a direct influence on garlic trade volume and garlic price.
3. Farmers are busy working the land and fewer people work in the market. This slows down the processing of garlic cloves and leads to a decrease in purchase volume.
4. The overall garlic export volume decreased. The overall garlic export volume between August 1-20 reached 92 thousand tons, while the overall garlic export volume between September 1-20 reached 69 thousand tons. This is a decrease of 25%.
5. The trade in fresh garlic is practically over, while the market volume of preserved garlic increases. The export and processing markets have already completely switched to preserved garlic purchases, and the domestic market gradually follows suit. The trade volume, however, is not that large because fewer people visit the market during planting season.
Based on this brief analysis, the Jinxiang garlic market is likely to steadily grow weaker next week.
Source: Tianjin Dashahe Market