China: The Spring Festival holiday is approaching, and garlic stocking is coming to an end

This week, the Spring Festival stocking is coming to an end, and the market transaction volume in the Jinxiang production area of ​​Shandong has decreased, and the sales are generally slowing down. Non-local storage companies have returned to their hometowns, export orders have decreased, and buyers are mainly for wholesale markets. The garlic market has started to show a significant downward trend since November. The market was already sluggish, but the public health incident in December caused a decline in catering demand and slow shipments, which directly made the remaining amount of stored garlic before the Spring Festival hit a new high.

Even though the Spring Festival effect has caused demand to rise again, the rigid market has driven the price of garlic upwards. However, the weather in December was also really warm. The weather in most "vegetable basket" producing areas was fine and the yield of green leafy vegetables was high. Due to the oversupply, the price fell, resulting in a weak momentum for the price increase of garlic. Although there are several garlic speculators, most of them are short-term, and the influencing factors of garlic basically return to the balance of supply and demand.

The trend of garlic after the Spring Festival is a topic that everyone is very concerned about. It is expected that a large volume of fresh garlic will be on the market after that. At that time, the remaining inventory is still the main factor restricting the sharp rise in garlic prices. After the Spring Festival holiday, the festival effect will be weakened, the market demand will be reduced, and the price may have a period of downturn. With the issuance of Indonesian quotas of garlic in March next year, the market will have a new development.

Source: myagric.com


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