Chinese garlic price goes up sooner than expected

The price of fresh Chinese ginger recently doubled, and the price of Chinese garlic is not far behind. The retail price of Chinese garlic continues to rise and already passed 5 yuan [0.74 USD] per 0.5 kg. Some fruit and vegetable traders state that the price of garlic always increases in winter, but this year the price rise has already started in autumn. The price of large garlic is around 5.5 yuan [0.81 USD] per 0.5 kg, while smaller garlic still sells for as much as 4.5 yuan [0.66 USD] per 0.5 kg.

The garlic from Weifang generally enters the Chinese market in late May. If the garlic price is nice, then farmers are likely to sell all their stock right away. If the price is not good, then they prefer to dry their garlic and wait until the market improves before they sell their garlic. The market price of garlic was around 2 yuan [0.29 USD] per 0.5 kg when garlic first entered the market this year. That is not high in comparison with the garlic price around the same time in the previous year. However, by April the price had doubled and was still rising.

The rising garlic price is a response to growing demand from buyers. Traders are stepping up the speed of stocking their warehouses. Buyers enthusiastically purchase garlic to fill up their storage space. The demand from processing factories is also larger than in previous years. As the price goes up, so does the frenzied purchasing of buyers, so the garlic in private storage of small investors is quickly brought into circulation.

Source: Weifang Evening News

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