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Garlic demand remains high in China

As this year is an off-year, the supply of garlic since July has dropped, leading to a sharp increase in prices across China. What are the reasons for this surge in prices this year?

First of all, this year's garlic planting area and production have seen a significant decline. Data shows that the planting area by each grower has dropped by more than 30%, resulting in reduced direct supply.

Secondly, purchasers have been hoarding the product. Since June, supply from rural areas has dropped significantly, and stocks from around the producing areas have been getting lower. Purchasers began to hoard garlic and artificially drove prices up. This is the main reason why prices have soared since June 1.

Moreover, the summer, with its hot weather, is the peak season for consumption. This, coinciding with the persistence of the African swine flu epidemic, has greatly stimulated the consumption of garlic, bringing strong demand.

Source: Pingshuo Finance


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