The Chinese garlic price has seen continuous increase in the last two months. The price of fresh garlic doubled from 1 yuan [0.15 USD] to nearly 2 yuan [0.30 USD] per 0.5 kg in September when traders purchased garlic to stock their warehouses. After the warehouses were full, the market conditions stabilized but now the price of garlic has started a second upward trend and has already exceeded 2.1 yuan [0.31 USD] per 0.5 kg.
"Most of the Chinese garlic in the overseas market is destined for Southeast Asia and South Asia. These regions have always been the major export market for Chinese garlic. Although the export price of garlic has been on the rise for some time, the price started out so low that the current price is still 50% lower than around this time last year." This is according to Mr. Lee of Pioneer Garlic Group.
When asked about the impact of the Covid-19 pandemic on garlic export, Mr. Lee replied, "garlic strengthens the immune system, that is why the export volume greatly increased in the period between December 2019 and September 2020. Current data shows that the second wave in Europe will not have a major impact on Chinese garlic export."
China occupies a steady first position in the international garlic market when it comes to trade volume and product quality. According to Mr. Lee, "domestic market demand is growing stronger and the share of domestic trade will grow in comparison to garlic export."
For more information:
Pioneer Garlic Group
Tel.: +86 537 8772 726
Tel.: +86 155 6239 7099