Garlic prices have been rising, with monthly exports hitting a seven-year high in China

Published 2024년 8월 2일

Tridge summary

In June, China's export of fresh or refrigerated garlic saw a significant increase of 46.10% month-on-month and 70.01% year-on-year, reaching 224,300 tons with an average price of US$1,190.18/ton. The cumulative export volume from January to June reached 970,700 tons, marking a 15.96% increase year-on-year. Indonesia emerged as the top importer, with a 35.55% year-on-year increase in import volume. However, the profit margin for garlic exports is being severely compressed due to rising domestic prices, low prices of overseas buyers' orders, and increased shipping costs. As a result, operating rates of processing plants are low, and some have suspended orders, potentially leading to a decline in export volume in July.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to customs data, the export volume of fresh or refrigerated garlic in June was 224,300 tons, an increase of 46.10% month-on-month and 70.01% year-on-year. The average export price was US$1,190.18/ton, a decrease of 11.02% month-on-month and 3.91% year-on-year. The monthly export volume reached the highest level since 2018. The cumulative export volume from January to June was 970,700 tons, and the cumulative export volume increased by 15.96% year-on-year. In June, the new season garlic was basically dried, and exporters mainly bought new dried garlic, and overseas demand was relatively strong. Some of the backlog orders in the early stage were also released in a concentrated manner, making the garlic export volume this month greater than that in previous months. From January to June 2024, the total export volume of fresh or refrigerated garlic in China was about 974,300 tons, an increase of about 135,800 tons compared with the total export volume of 838,500 tons from ...

Source: Guojiguoshu