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Chinese garlic 104% more expensive than last year

Relevant data shows that The price of garlic in the Beijing Xinfadi Market was around 1.7-2.6 yuan [0.25-0.38 USD] per 0.5 kg on May 21st, 2019. This is a price increase of 104% in comparison with last year. The price of Chinese garlic continues to grow. And as the price is rising, so is the optimism of farmers and traders alike.

Some garlic farmers stated that garlic supply was excessive last year. The lower purchase price was only around 0.5 yuan [0.07 USD] per 0.5 kg. When the price is that low, fresh garlic becomes difficult to sell. Many garlic farmers suffered financial losses. Some farmers were unable to make ends meet. Under these conditions, many farmers decided to reduce the surface area devoted to garlic plantation. The supply volume therefore declined and the price went up.

Preliminary data shows that the overall surface area devoted to garlic plantation in China declined by 25% in comparison with last year. This is the reason that the garlic price recovered this year.

Source: CCTV Finance and Economics

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