Buyers are in Spring Festival mood

Jinxiang Garlic Market: Price, trade volume, and trade value all increase

The Chinese Spring Festival [February 5th, 2019] is almost here and business is booming. Buyers showed great enthusiasm in the Jinxiang Garlic Wholesale Market last week. The processing of garlic slices was temporarily halted on January 25th, so the purchase volume of processing factories declined, but traders with storage increased their sales volume. Their asking price is quite high. Buyers purchase according to market fluctuations. When their enthusiasm is great, the overall price rises, the trade volume slightly grows, and the trade value increases. Why?

1. The domestic garlic market is in the period when traders prepare for the Spring Festival. The trade volume slightly grows and traders with stock increase their asking price. Premium garlic is difficult to procure, but buyers are eager and purchase according to demand. Traders mainly buy white garlic for processing and export, and the price of white garlic therefore increased a lot. However, the factories that process garlic for export began their holiday on January 26th and the trade volume declined in the weekend.

2. Similarly, work stopped in the garlic slice processing factories on January 25th, and the purchasing of raw material for processed garlic slices came to a stop.

Source: Shandong Jinxiang Market

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