"The export price of Chinese garlic has suffered from heavy fluctuation in recent weeks. Traders began to empty their warehouses of old garlic around the 9th of September. The sudden increase in supply pushed down the price of fresh garlic. The price suddenly dropped by 0.5-0.8 yuan [0.07-0.11 USD] per 0.5 kg. However, traders were pleased to see that the volume of orders from India, as well as the volume of purchases from Russia, South America, and Southeast Asia all increased and the export market began to improve. The export price increased by 1,000 yuan [140.90 USD] per ton in the last 3 days, which is more or less a rise of 0.5-0.8 yuan [0.07-0.11 USD] per 0.5 kg." This is according to Miss Jenny from Laiwu Intop Import and Export Co., Ltd.
The Laiwu Intop Import and Export team
"The export price of Chinese garlic increased by 2,000 yuan [281.80 USD] per ton in the last month. The current price is around 8,000 yuan [1,127.17 USD] per ton. As for the Indian market, India previously prohibited garlic import from China, but the Indian government now decided to relax this prohibition. The Indian market is about to open up again for Chinese garlic and when that happens, the export price of Chinese garlic will continue to rise."
"About two-thirds of the stock of old garlic from 2018 has been sold. This is mainly because the price was advantageous. The old garlic is only suitable for export to Southeast Asian countries because the product quality will not survive transport that takes longer than 10 days. As for the production volume, our market research indicates that the 2019 garlic production season is similar to the 2018 garlic production season. This is not entirely consistent with the official figures, which indicate a 10% increase in production volume. Apart from that, the product quality of garlic this year is much better than last year."
Various packages of garlic
"The domestic market is stable. Price fluctuations are within reasonable limits. While we continue to develop our market share this year, we also hope to export our garlic to Europe and sell our garlic in high-end markets."
For more information:
Laiwu Intop Import and Export Co., Ltd.
Tel.: +86 13563472831