The Chinese garlic market calmed down in November. Following the rapid price increase in October, outside investors and speculators slowed down their activities and waited to see how the market would develop. The market now mainly supplies to regular demand from domestic and overseas clients. The market is only slowly warming up. Some suppliers have made profit and are now waiting to see how the market develops, while traders with stock in refrigerated storage are slowly releasing their garlic. This has caused some minor fluctuations in the Chinese garlic market.
China exported a total of 1.94 million tons of garlic in the first 11 months of 2020. That is an increase of 444,900 tons or 29.62% in comparison with the 1.5 million tons of garlic in the first 11 months of 2019. Data from 51garlic.com shows that China exported 244,200 tons of garlic in November. The export value reached 243 million USD. This includes fresh garlic, garlic from cold storage, garlic cloves, dried garlic, salted garlic, pickled garlic, and preserved garlic.
The ten largest export destinations for Chinese fresh garlic and cold storage garlic are Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Pakistan, Bangladesh, Russia, United Arab Emirates, and Poland. November is the peak period of Chinese garlic export, because overseas markets prepare for the holiday season. There is a particularly strong demand from Indonesia, the Middle East, and South Asia, which often leads to price fluctuations. In addition, the outbreak of Covid-19 disturbed the balance between supply and demand. The growing demand opened up more opportunities for profit in the Chinese garlic market.