China: Will garlic prices skyrocket again?

According to the Jinxiang Garlic Price Index, as of June 1, 2019, the monthly garlic price year-on-year index closed at 176.96 points, with an increase of 8.5%. The weekly garlic price year-on-year index closed at 195.20 points on April 15, 2019, and 263.80 points on June 17, 2019.

What caused garlic prices to skyrocket this year? According to insiders, the main reason is last year’s low price, which has resulted in a significant reduction in the planted area, thus causing short supply and driving prices up. In fact, signs that garlic prices will rise sharply this year could already be seen in April and May, where garlic started to grow shoots. Due to the reduction in the planting area and the projected harvest area, this year's garlic price is increasing significantly, even before harvesting starts.

Source: Henan Business Daily

 

 


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