South Korea: Strong garlic prices concern about surge in imports

Garlic imports in June increased significantly compared to the previous year. This is interpreted as the result of importers competing for imports as garlic production decreased this year due to sluggish crops and the price was stronger than usual. While garlic prices are expected to remain strong, there is an observation that garlic imports are highly likely to increase in July as well. ◆The price of production areas is strong compared to the average year… Prospect of strong growth = Meridian prices at the main garlic producing areas such as Changnyeong and Hapcheon, Gyeongsangnam-do are showing stronger than normal. According to Nonghyup Economic Holdings, on the 7th, the average meridian value of 1 kg of Daeseo garlic sold at six Nonghyup including Changnyeong Agricultural Cooperatives was 5,401 won. This is 2.9% higher than last year's 5,249 won and 49% higher than the average of 3626 won. Experts analyzed that the meridian price is stronger than normal, but it ...