The harvest of new garlic is ending, and the price of garlic has stabilized and rebounded

At the beginning of June, the digging of new garlic in various places began to end, and much new garlic flooded into the market. From the survey of the main producing areas, the price of new garlic in many places has dropped to a historical low, significantly lower than last year. In June, the garlic market showed a trend of hot storage and high popularity. At the beginning of June, less than 10 foreign customers came to Jinxiang to collect garlic. Just a week later, there were as many as 60. The price of garlic in Jinxiang also continued to rise. Generally, the price of mixed-grade garlic went straight to more than 1.7 yuan/jin.
The market expects that the reduction of garlic planting area in the second half of the year is an important reason for the stabilization and recovery of garlic prices in this round. The surge in demand for garlic chips also supported the price of garlic. In 2022, the price of hybrid root slices will increase with the price of raw materials, from 10,600 yuan/ton to 11,750 yuan/ton, an increase of 10.8%. The cost of new garlic slices is nearly 12,000 yuan/ton. The mainstream price of dehydrated garlic has risen from about 1.00 yuan/jin at the beginning of the month to 1.32 yuan/jin, an increase of 32%. Since the start of new garlic trading this year, dehydrated garlic has remained in short supply and at firm prices. At the beginning of the listing, there was a boom in rushing goods, and the supply was too small. The price is easy to rise and difficult to fall, which supports the strong operation of the national garlic price.
In terms of exports, under the severe impact of the epidemic at home and abroad in May, the total export volume of Chinese garlic was 164,100 tons, a year-on-year increase of 13.90%, which was better than expected. The export price also showed a decline in the price of fresh garlic and an increase in the price of dried garlic. The average export price of fresh or refrigerated garlic in May was US$858.07/ton, a year-on-year decrease of US$109.93/ton, a decrease of 11.36%. The average export price of dried garlic was US$2,752.52/ton, a year-on-year increase of 397.96 US dollars/ton, an increase of 16.90%. Indonesia, Vietnam, and the United States are the top three exporters, with exports reaching 40,100 tons, 16,100 tons, and 14,300 tons, respectively. The demand from the United States has increased significantly compared with the previous month, at 18.18%. In June, with a large number of new garlic in the main producing areas, it is expected that the overall export volume in June will increase compared with that in May. The main exporting countries are still concentrated in Malaysia, Vietnam, and Thailand in Southeast Asia, while the US has maintained an increase in garlic purchases recently. There are still more than two months before the end of the garlic transaction outside the warehouse, and the current garlic purchase and storage is only a prelude. After entering July, the amount of garlic in each producing area will gradually increase. The current upward trend is difficult to continue, but there is little room for decline.

The harvest of new garlic is ending, and the price of garlic has stabilized and rebounded PDF