Weak price increase

250 million kg of garlic shoots in storage as Chinese Spring Festival approaches

The price of garlic shoots has recently been fairly stable, and supply has been slow. The market conditions in December, 2018, were stable and the sales volume showed a slight increase. The price increased by 30% in comparison to the same period last year. Only a small number of traders made a loss, but in general there is a good profit margin in the market for garlic shoots.

The stable price of garlic shoots is on the one hand caused by the approach of Chinese Spring Festival [February 5th, 2019] when sales pressure grows, and on the other hand by recent weather conditions. The number of cold days with snow is small, and the production of seasonal vegetables continues as before, which softens the price increase associated with Spring Festival.

Price stability is further strengthened by a limited supply and great profit. The current volume of garlic shoots in storage is around 260-270 million kg, which is 20% less than last year around this time.

Source: cnr.cn


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