In light of the recent volatile conditions in the garlic market, exacerbated by cold weather, stockists have reacted by increasing prices and withholding sales. Manager Zhang, representing Jining Greenstream Fruits&Vegetables Co. Ltd., a major exporter of garlic to Eastern Europe, shared his insights into the current garlic export market with FreshPlaza.
Regarding inventory levels, national garlic reserves stood at approximately 2.1 million tons at the onset of February 2024, a notable decrease from the 2.7 million tons recorded during the same period last year.
Market dynamics in February were influenced by factors such as the Chinese New Year and a sudden surge in garlic prices, resulting in a slowdown in purchasing power. Furthermore, recent occurrences of low-temperature freezing rain in garlic production regions have impeded the growth of new garlic and affected stored garlic. This widespread impact has led stockists to adopt a cautious approach, resulting in heightened prices and a rapid escalation of the garlic market.
Looking ahead to the upcoming garlic season, set for harvest in May, concerns arise due to unprecedented levels of low-temperature freezing rain. It is widely believed in the market that this weather anomaly may hamper future garlic growth, potentially leading to a decrease in production and subsequent price fluctuations.
Jining Greenstream Fruits&Vegetable Co., Ltd. specializes in exporting agricultural products such as ginger and garlic to Eastern European and Asian markets.
