Netherland: Market demand for garlic has been slowly weakening as overseas markets are saturated

Published Dec 3, 2020

Tridge summary

The Chinese garlic market has seen a decline in foreign demand due to increased shipping costs and a rise in the Chinese yuan exchange rate, leading to delayed deliveries by exporters. Despite these challenges, exports have increased and prices have remained stable for the past two weeks. The current FOB price is 752 Euro per tonne (# 5.0 garlic). The market is expected to remain stable in the coming weeks with prices fluctuating around 4.13 to 12.40 Euro. The future prices for next year will depend on the harvest, growers' enthusiasm, and the amount of garlic stored in warehouses this year.

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

Original content

The Chinese garlic market has been slowly weakening since the new harvest, but there have been no price fluctuations. Foreign demand for Chinese garlic fell as shipping costs suddenly rose and the exchange rate of the Chinese yuan rose. Chinese garlic exporters have therefore delayed deliveries. Helen from Junan County Green Food spoke about the current conditions in the Chinese garlic market. Traditionally, large quantities of garlic are purchased by overseas buyers in October in preparation for the Christmas season. The orders have now reached the overseas markets and the traders have enough garlic in storage. Therefore, the market demand is now much weaker. "Total exports of Chinese garlic have increased this year and the price has remained stable for the past two weeks. The current FOB price is 752 Euro per tonne (# 5.0 garlic)," explains Helen. The market has steadily weakened. More recently, shipping costs have suddenly risen and many exporters are in trouble. The current ...

Source: AGF