China: Garlic prices at final peak
Selling prices for Haikou garlic have already dropped 1RMB since the high peak of late March and early April. Since May, it has been stable at 8RMB.
New garlic is going on sale, but why doesn't the price go down? Xingang garlic distributor Mr. Huang explains that the stocks outside the province are already fully supplied. But some supply shops fear that large supplies would shock and destabilise the market, so they don't increase the supply rashly. Mr. Huang adds that since this years garlic is entirely supplied by the stocks, prices aren't likely to rise further. "There is no room for further price surges in the short term, a fall in price is only a matter of time."
Source: Nanguo Dushi Bao
Publication date: 6/22/2016