"In 2017, the garlic storage in China was around 3.48 million tons. This is an increase of almost 78% compared to last year's 1.96 million tons. That is why many garlic farmers have stopped their production, or are cautiously containing production," according to Mr. David Lee, CEO of Jining Rich Garmer International Trade Co., Ltd.
Packaged garlic for export
Fresh garlic for export
"In 2016, an increase in the garlic production area led to an almost doubling in production this year. This dramatic growth in the market supply is dragging down the export price. The current export price is around 6,000 yuan per ton. Compared to last year's 10,000 yuan per ton, that is a drop of over 40%. This year, the total garlic sales will not rise over 2.4 million tons, leaving 1 million tons for storage."
High quality Jining garlic
Sorted garlic
"At the beginning of this year, the garlic price was like a roller coaster. This was mainly because, during the harvest, farmers and traders thought the production would be very large, so they vigorously tried to sell their garlic. This led to a surplus on the market, which dragged down the export price. As traders were frantically purchasing garlic, and more traders were entering the market, there was a garlic surplus at the large ports as well, which was impossible to process. To reduce the loss, customers could only drive down the prices, or otherwise lose money. Lately, this has been getting worse, as many have now stopped buying garlic."
Garlic for export
David Lee (CEO)
Jining Rich Garmer International Trade Co., Ltd.
Website: http://www.chinarichfarmer.com
Phone: +86 158 5378 2091
Email: info@chinarichfarmer.com