Recent weather conditions in Shandong were great. The garlic harvest was predicted to start around the 20th of April. Manager Zhang of Jinan Wantao Foodstuff Co., Ltd. recently talked about current conditions in the Chinese garlic market.
According to manager Zhang, the overall surface area devoted to garlic plantation in Shandong declined this year, but still people in the industry have high expectations for both the volume and production quality of the main garlic harvest in May. Speculation in the garlic market has increased.
"The delivery volume of old garlic from storage is shrinking. Some clients prefer to wait for the new harvest. People in the industry have high expectations for the product quality and production volume of garlic this year. The price is currently regular. The FOB price is around 1,000 USD per ton. After an initial drop when fresh garlic hits the market, the price of garlic is expected to rise again," explained manager Zhang.
Jinan Wantao Foodstuff mainly exports garlic to Europe, the Middle East, and South Asia. "The price of shipping is still rather high in the wake of the Suez canal incident, but exporters are already used to high transport costs. The impact on garlic orders seems rather small."
"As for the ginger market, there have been frequent fluctuations in recent months. In the beginning of November, when fresh ginger just entered the market, the price reached as high as 2,000 USD per ton. Chinese exporters began to export in large volumes, which resulted in excess supply, which then caused the price to drop. In March the price had already fallen to 1,600 USD per ton," said manager Zhang. "The volume of overseas orders only began to rise again in the middle of April. The current price is now around 1,650 USD per ton. This price is expected to remain stable for the next few weeks."
In addition to fresh ginger and garlic, Jinan Wantao Foodstuff also exports other agricultural products including onions, apples, pears, chestnuts, potatoes, and taro, as well as processed products such as sliced ginger, garlic powder, and garlic cloves. The company has an annual export volume of around 2,000 shipping containers.
For more information:
Zhang Chunjian - Manager
Jinan Wantao Foodstuff Co., Ltd.
Tel.: +86 13561730391