In 2021, China's garlic export volume decreased 16.2% compared to 2020. The main reason is impacted by high sea freight. And sea freight takes up about 1/3 of CIF price, which leads some buyers to change their resources to nearby export countries. For example, big buyers like the EU import from Spain and Brazil import from Argentina.
After Lunar New Year, garlic stocks still move slow, and the volume of the current supply is estimated at 2,000,000 MT. The biggest buyer of Indonesia will start the new Import Quota from the end of February, which is a good signal to move stocks. However, China's early harvest will come into the market in March, which will be immense pressure for price up.
After Lunar New Year, garlic stocks still move slow, and the volume of the current supply is estimated at 2,000,000 MT. The biggest buyer of Indonesia will start the new Import Quota from the end of February, which is a good signal to move stocks. However, China's early harvest will come into the market in March, which will be immense pressure for price up.
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