High Singapore garlic prices

Cold weather conditions in China have pushed garlic prices up. This is noticable on the Singaporean market. While $2 could easily get a 500g bag of garlic previously, with prices as low as $1.45 last year, the same bag will set buyers back by at least $2.30 in supermarkets here. At the Giant supermarket chain, prices of garlic have gone up by 30 per cent in the past four months to $2.30 for 500g of garlic.

Extremely cold weather in winter can damage and even freeze garlic crops. Many farmers have reported a decrease in harvest, or have lost their harvest, due to cold snaps in January and December.

Other crops besides garlic have also been affected by the recent cold weather; China's consumer price index for fresh vegetables rose 29.9 per cent from January to February this year.

In addition, there are suspicions that suppliers in China may also be withholding garlic stocks, with some speculating on garlic prices and further driving them up. In 2010, a poor harvest in China similarly pushed up prices of vegetables in Singapore, with some retailers selling garlic at $3 per 500g - levels yet to be reached this year.

Crops besides garlic have also been affected by the recent cold weather; China's consumer price index for fresh vegetables rose 29.9 per cent from January to February this year.

This, however, has not translated into a similar jump in Singapore, with vegetable prices increasing by only 2.9 per cent over the same period.

Retailers said garlic prices are unlikely to stabilise soon. Some market participants are looking to other countries for alternative sources. China, however, is by far the largest producer. In 2013, it produced roughly 80 per cent of the world's garlic.

Source: Straits Times

 
 

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