Greece: Unstable prices as traders play speculation games

Greek prices for local garlic are still low as traders are still playing speculation games. In the opinion of Konstantinos Mirtsidis, of Mirtsidis (Greece), the local prices are still not stable at the moment but this is expected to change next month when garlic from other countries such as China starts trickling in.

“The prices of garlic aren’t so expensive at the moment but this won’t last for long. At the moment traders aren’t importing much from other countries as the demand isn’t so high, but from next month things will change,” explains Mirtsidis.

Mirtsidis has been importing garlic from China at $2.6 per kilo but the prices have gone up now to approximately $2.8 and this year, they have smaller sizes compared to last year.

"The prices for Chinese garlic are not normal, its too expensive due to the speculation. There are people who buy the garlic and wait for the prices to go up, this artificially pushes the prices up."

Prices for local garlic will have tripled by Christmas.

Furthermore, his company, which is currently building a new warehouse in Athens, also plans to raise its garlic imports from Egypt this year. Last year, they imported 6 containers of garlic from Egypt. Mirtsidis also imports from Spain and exports to Hungary and Bulgaria among other countries.

For more information:

Konstantinos Mirtsidis
Mirtsidis (Greece)
Tel 0030-210-2464-384
Cel 0030-6974-6063-71

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