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Price of Chinese garlic from storage suddenly dropped, and the price of fresh garlic is not high either

Early-season garlic has already entered the Chinese market. The price continues to fall. The current average price of fresh garlic is 0.7-0.9 yuan [0.10-0.13 USD] per 0.5 kg. The price is nearly 50% lower than around this time last year when the price was 1.5-1.6 yuan [0.21-0.23 USD] per 0.5 kg. The price is 0.7-0.8 yuan [0.10-0.11 USD] per 0.5 kg lower than last year.

The price of garlic from storage suddenly dropped and the price of fresh garlic is not high either. There are three reasons for this development: first, the overall surface devoted to garlic plantation expanded this year. Last year the price of garlic was high and did not come down, so many farmers decided to expand the surface area devoted to garlic plantation. Second, many restaurants closed for business during the outbreak of COVID-19, which resulted in a decline of market demand for garlic. Third, the export market is limited because of the COVID-19 pandemic. Many countries closed their borders to limit the spread of COVID-19 and this has resulted in a sharp decline of the garlic export volume. Many farmers are afraid they will suffer financial losses this year. The price will certainly not rise to the same heights as last year.

Source: Jinri Toutiao

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