Chinese Garlic Current Market Is In The Off-Season
In China, the price of garlic has been on the rise since the Spring Festival. At this stage, the amount of garlic in the Jinxiang area is still huge. It is estimated that the current inventory accounts for about 30% of the total amount of garlic harvested last year. These stocks of garlic are bound to enter the market with new garlic in the later stage.
The quality of early-maturing garlic marketed in March is not suitable for ocean export and can only be used to supply the mainland. At the same time, Shandong garlic will not be available until the end of May. Most overseas merchants are waiting for the launch of new garlic, which is cheaper and of better quality. Therefore, as in April-May of previous years, the current garlic market is in the off-season.
In general, the export price of garlic is stable at a high level, and the export volume has not decreased compared with the same period of the previous year. It is estimated that this year, China's garlic production will be reduced by about 15% compared with last year, but the market will still be in a situation of oversupply, mainly because last year's output was too large, there are still many old garlic in the cold storage.