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"The approach of Chinese Spring Festival affects the market price of garlic"

The price of garlic has experienced significant changes in the last few weeks. The garlic price was relatively high at the beginning of the season, but later dropped. The price began to climb again in October. Wu Yuchong of Jining New Silk Road Foodstuffs Co., Ltd. recently talked about current conditions in the Chinese garlic market: "Conservative estimates put the overall production volume of Chinese garlic at more than 3 million tons this year. Not only did the production volume increase, but the product quality improved as well."

"There is still around 120-150 thousand tons of old garlic from last season in storage. We expect that the majority of this garlic will be sold before the end of December. A small volume will be sold after Chinese Spring Festival [25 January, 2020]. The overall supply volume of old and new garlic is currently around 2.6 million tons. Calculating market demand based on previous years we estimate that the domestic markets will require another 650-700 thousand tons of garlic before Chinese Spring Festival. As for the price, the market price of garlic is relatively stable now. The price was in a high position at the start of this season because the price was high last season. However, the upcoming Chinese Spring Festival is earlier than in previous years and with the approach of Spring Festival the price of garlic is falling."

"The price of garlic is affected by many different factors, just like the price of most agricultural products. One of these factors is Chinese traditional practices. Official regulations stipulate that the Chinese Spring Festival lasts 7 days, but many workers will take 2 weeks off from work. The factories will continue to receive orders, but they will not have the workers to process them. The factories will temporarily halt operations. This interruption naturally affects the market price of garlic as well. However, many garlic processing factories continue to standardize operations and fewer factories halt their operations."

"Our company is specialized in the large-scale production and export of agricultural products. We have already established our own standardized processing factory and refrigerated warehouse. The products we manage include vegetables, fruits, dried vegetables, and nuts."

For more information:

Wu Yuchong

Jining New Silk Road Foodstuffs Co., Ltd.

Tel.: 0086-537-2339511 

Fax: 0086-537-2339611 

E-mail: admin@newsilkroadfood.com  

Website: http://www.newsilkroadfood.com  


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