Chinese garlic prices expected to be lower at the end of May due to an abundance of old stocks
Ricco Zhao
Published 2022년 4월 26일
Highlights
1. For 2022, the new garlic season will start in May and it is very possible to have a rich harvest. The reefer stocked garlic price is still decreasing and the estimated volume of the stock is over 1.2 million mt.
2. In March 2022, the total exported fresh garlic volume was 164.2K mt, an increase of 27.4% YOY. Indonesia, which imported 44.4K mt (37%) is the largest buyer with Vietnam and Thailand following at 18.6K mt (15%) and 10.2K mt (9%) respectively.
3. For Q1 2022, the total exported fresh garlic volume is 373K mt, increasing by 0.5% YOY.
Comments
1. April and May are the busy farming times for Chinese garlic farmers, so it is hard to hire laborers to do pack during this period.
2. When new stocks of garlic start to be traded at end of May, the old garlic stock volume is estimated to remain at about 1 million mt, a historically high volume. This will exert pressure on new garlic prices.
3. Today's reefer stocked garlic price dropped to USD 0.5/kg (General Mix Grade, Ex-work price) with prices still at a decreasing trend. There are expected to be even lower prices at the end of May.
1. For 2022, the new garlic season will start in May and it is very possible to have a rich harvest. The reefer stocked garlic price is still decreasing and the estimated volume of the stock is over 1.2 million mt.
2. In March 2022, the total exported fresh garlic volume was 164.2K mt, an increase of 27.4% YOY. Indonesia, which imported 44.4K mt (37%) is the largest buyer with Vietnam and Thailand following at 18.6K mt (15%) and 10.2K mt (9%) respectively.
3. For Q1 2022, the total exported fresh garlic volume is 373K mt, increasing by 0.5% YOY.
Comments
1. April and May are the busy farming times for Chinese garlic farmers, so it is hard to hire laborers to do pack during this period.
2. When new stocks of garlic start to be traded at end of May, the old garlic stock volume is estimated to remain at about 1 million mt, a historically high volume. This will exert pressure on new garlic prices.
3. Today's reefer stocked garlic price dropped to USD 0.5/kg (General Mix Grade, Ex-work price) with prices still at a decreasing trend. There are expected to be even lower prices at the end of May.
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