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Garlic prices in China have been dipping since May

The roller-coaster volatility in the price of garlic over recent years has drawn the concern of consumers. It is once again the season of fresh garlic, and according to the statistics of the Ministry of Agriculture, the wholesale price has continued to decline since May. The wholesale price was 8.4 yuan/kg on May 1 and dropped to 6.06 yuan/kg on May 24.

Reasons for the decline are listed as follows:

Seasonal factors. The product currently marketed is mainly the new crop. With the recent increase in temperature, fresh garlic has been flooding on to the market, driving prices down.

COVID-19 pandemic. The earlier traffic controls, obstructions that workers faced traveling back to work, and a slump in the catering industry caused by the pandemic, have led to a decline in the sales of storage garlic. When sales activities returned to normal, the new crop became available, resulting in the sales of both the new crop and storage garlic being greatly affected.

Expanded planted area. It is reported that the dedicated acreages have increased by about 30% to 40% compared with the previous year. Due to this increase, the new crop flooding on to the market will inevitably lead to a decline in prices.

Affected exports. China is the main producer of garlic. It is reported that China's garlic exports account for 70% of its total production each year and are exported to more than 120 countries. Currently, due to the severe pandemic situation overseas, many countries have closed their import and export channels, which has affected the export of Chinese garlic and consequently led to a further dip in prices in China.

Source: Ministry of Agriculture and Rural Affairs of China

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