“Chinese garlic export price is stable, but overseas market demand remains weak”

The price of Chinese garlic was rather low at the start of the export season, so farmers were reluctant to sell. As traders with storage space started buying garlic, the price steadily increased. The price has stabilized over the past few weeks, but the cost of shipping still discourages overseas buyers, so overseas demand remains weak. The volume of orders from foreign customers is not as large as in previous years. Mr. Li, Sales Manager of Jining Shangzhuo Food Co., Ltd., recently talked about the current garlic market conditions.

The garlic has dried well this season. The bulbs are large and heavy, and the color is beautiful. More than 30% of garlic is larger than 6.5# or 7#. There are more than enough wholesale garlic supply for customers. The price of garlic from production areas in Shandong has stabilized recently. Production areas speed up supply deliveries. The overall volume of supply satisfies market demand. Traders with storage space are watching the price closely. The price for premium garlic is firm.

“As for export, the current FOB price of 1kg bags of 5.5# garlic shipped from Qingdao is around US$930 per ton, nearly US$90 higher than last month. The price has been relatively stable over the past few weeks,” Mr. Li said. “However, the demand from the overseas market is weak. The order volume is not large. further slowed down trade in our industry.”

Asked about the market forecast, Director Li replied, “Many traders are speculating on garlic prices, and the impact of speculation on the price of garlic is enormous. It is therefore difficult to predict the evolution of prices on the garlic market. at the beginning of September, the majority of the garlic was stored in a cold store. Additional cold storage costs will increase the export price of garlic.

According to manager Li, the cost of shipping remains an important influence on the decisions buyers make. Shipping costs have recently dropped. The current shipping cost between Qingdao and Europe is around 8200 USD per container, which is still much higher than usual. Some countries increased domestic garlic production because the shipping cost was prohibitive, which naturally affects China’s garlic exports.

For more information:

Mr. Li

Jining Shangzhuo Food Co., Ltd.

WhatsApp: +8613213293300

WhatsApp: +8617362151011

Email: [email protected]

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