In the first half of this year, the garlic market fluctuated frequently, with an overall increase as the main developing trend. At the end of May, the new season of garlic began to be harvested, and it experienced short-term price fluctuations in the early stage of launching. Regarding the garlic market from summer to now, David Zheng from Jining Martin International Trading Co., Ltd. said: "Since the sale of fresh garlic began in late June, the actual price has been stable as a whole, and the price of raw materials has remained between ￥6-8/kg, with a fluctuation range of 5%-10%. The market outlook price is not expected to rise sharply again. Due to the lack of demand in the market, the price has no incentive to rise."
"Affected by the economic environment, the international market demand is weak, and the catering industry is under impact, which reduces the export volume of garlic. In the second half of the year, our garlic export orders decreased by about 50%. In addition, the rise and fluctuation of the garlic market this year, except for some objective reasons, is a considerable part of speculation, including rumors of similar price hikes in the second half of the year. Because of the futures nature of garlic, some merchants speculate on garlic production, inventory and international current affairs to cause price fluctuations. The yield and quality of garlic in the new season have indeed declined, but the actual impact on the price is limited. In the context of weak market consumption, if the market rises too high and too fast, the cost of buyers will increase too much, which will only reduce the actual transaction volume."
When talking about the trend of market prices, David said: "In recent months, the overall trend has been stable. It is estimated that it has risen before the Chinese New Year, but the increase should not be too great. There is a high probability that the price will decline afterward because the market demand will decrease."
The main products of Jining Martin International Trading Co., Ltd. include garlic, young garlic, onions, peppers, and gingers. The main export markets are Southeast Asia, the Middle East, South America and Europe.