"Recently, the export price of garlic has been going down. Even though it's the peak season for export to Indonesia, the price has dropped from the original 12,000 to a mere 6,000 yuan per ton. Compared to the same period last year, it's a decrease between 50% to 100%. The export price is expected to remain steady at around 2 yuan per kilo till the middle of June," said Jenny from Laiwu Yingtuo Trade Ltd.
"The export season of new garlic started earlier than normal. Our first ship was scheduled for the 10th of May. The export volume this year will be doubled compared to last year. However, with the harvest of garlic in Jingxiang on the horizon, prices will drop further to 1/3 or even 1/4 of the current one, and the total export volume will go down accordingly."
"The yields this year have been 20% to 30% higher, so a lot of export companies lowered their prices to attract more clients. After Jingxiang garlic enters the market in large volumes, some speculators may even buy from retailers just to monopolize the market and thus raise the price. As a result, the export price could rise to around 300 to 400 yuan per ton. Based on the current market situation and our ability to process over 10,000 tons of garlic, we have adjusted our sales structure. This year, while continuing with our export to the Middle East, South America and Africa, we will increase the volume of exports to southeast Asian countries including the Philippines, Malaysia and Indonesia"
