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Cold-storage garlic market is in a weak and negative situation

China: The price of cold-storage garlic in Jinxiang increased by more than 28% year-on-year

Since October, the cold-storage garlic market has been in a weak and negative situation, the supply of garlics in the warehouse has not been sold quickly, and the mentality of the stock-keepers is also affected. Whether they are new-harvested garlic sellers or not, they are not confident enough to raise prices. Whole warehouses and bulk inventories are gradually increasing, and the increasing enthusiasm of garlic sellers to sell products has suddenly increased the pressure on the supply side.

At present, the garlic market demand is relatively flat, and the domestic market for rigid demand is not large, and the market maintains a wait-and-see situation; cold-storage garlic exports are not active. According to customs data, in September 2021, China exported 147,900 tons of fresh or refrigerated garlic, a year-on-year decrease of 3.35%; the export value was US$156 million, an increase of approximately 20.66% year-on-year

Transactions of cold-storage garlic in the Jinxiang production area are not very active, and there are many sources of garlic harvested previously that intend to sell. Although sellers of new-harvested garlic have the intention to clear the stock, their asking prices stick to the bottom line. This leads to, the demand for market procurement being relatively average, but the short-term speculators have a strong wait-and-see market performance. The transaction situation in the rigid demand market is also relatively normal. The whole market is stable and slightly weak. There are relatively more good-quality. old garlic and low-priced new-harvested garlic in the storage.

In terms of price, last week, the price of cold-storage garlic in Jinxiang did not fluctuate significantly. Generally, the price of mixed-grade garlic was stable at around 5.22 RMB/kg; the price of 5.5cm-grade garlic was stable at around 6.00 RMB/kg, compared with the average price of 4.68 RMB /kg in the same period last year, a year-on-year increase of about 28.21%.

At present, about 80 to 90% of garlic fields in the Jinxiang production area have been planted, and 90% of garlic fields in the Qixian production area have been planted. Farmers in other production areas are also busy covering films on sunny days. As the garlic planting time this year is generally delayed by 10-15 days compared with previous years, the survey of accurate areas will also be postponed compared to previous years. Of course, qualitative changes are all triggered by quantitative changes. Since 2015, stimulated by the high price of garlic, the garlic planting area has also increased year after year. If there are no special circumstances, the annual garlic area will not fluctuate too much.

Source: 51garlic.com


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