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Current Position:Home » News » Agri & Animal Products » Fruits & Vegetables » Topic

Are Chinese garlic prices to stay high?

Zoom in font  Zoom out font Published: 2016-07-15  Views: 17
Core Tip: According to information from Jinxiang Garlic Professional Wholesale Market in Shandong province, the average wholesale price for garlic was 8.80 Yuan per kilo in June (approximately 1.20 Euro), significantly higher than the 5.10 Yuan per kilo.
 According to information from Jinxiang Garlic Professional Wholesale Market in Shandong province, the average wholesale price for garlic was 8.80 Yuan per kilo in June (approximately 1.20 Euro), significantly higher than the 5.10 Yuan per kilo it accounted for in June 2015. Total volume of traded garlic at the wholesale market in June amounted to 134,782 tons, a 7% decrease compared to June 2016.
 
"The high prices are caused by a combination of reduction in total garlic output due to extreme weather conditions early in the year, and strong demand from the Chinese domestic  market. Current new garlic available is less than this moment , and the amount of last year's garlic that is currently remaining in stock is also less than around this time last year. Therefore I do not expect garlic prices to come down any time soon," Sherry of Laiwu Wanxin Economic and Trade comments. The company is based in the city of Laiwu in Shandong province and exports garlic, ginger and potatoes.
 
"Demand from Asia has been growing stronger since the end of the Ramadan and customers are willing to accept the elevated prices. Currently, the garlic can be kept outside in the open air. In August, the garlic will be moved into cold storage facilities. When this happens, electricity, management and warehouse costs will add to the current price. This could push prices up even further. Recent exports to Brasil have also been strong."
 
keywords: garlic
 
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