Review of garlic market in 2024: high prices and strong exports

In 2024, China's garlic market saw complex price fluctuations and supply and demand adjustments, with extreme weather, planting structure adjustments, and changes in export demand being key factors. The market started the year at a high level, with the opening price of new season garlic being 3.01 yuan/jin, which although a decrease from the previous year, was still above the planting cost. The average purchase price from June to August was 3.50 yuan/jin, but prices rose significantly after July due to fast warehousing progress, reduced surplus goods, and export demand. However, a downgrade in domestic consumption caused prices to fall back to 3.00 yuan/jin. The peak export season at the end of the year supported a rebound in prices. The Autumn-sown garlic planting area in the northern garlic areas increased by 9.03% year-on-year, indicating a potential increase in garlic production in the next season. China's garlic exports, which account for over 80% of the world's total, reached 2.63 million tons, a year-on-year increase of 16.45%, with the average export price of garlic slices increasing by 40.52% year-on-year.

In 2024, China's garlic market experienced complex price fluctuations and supply and demand adjustments. Affected by multiple factors such as extreme weather, planting structure adjustment, and changes in export demand, the market throughout the year showed the characteristics of "high-level operation, increased area, low inventory, and strong exports". The market started at a high level at the beginning of the year, and the summer harvest season opened flat and went high. The opening price of the new season garlic in 2024 was 3.01 yuan/jin (mixed grade in Jinxiang, Shandong). Although it fell by 10% year-on-year, it was still higher than the planting cost line of the land contractor (2.50 yuan/jin), and the profit margin of farmers was still acceptable. The average purchase price from June to August was 3.50 yuan/jin, a year-on-year decrease of 0.2 yuan/jin. However, the price continued to rise in the later period, and after July, it hit a daily high in 8 years, reaching 4.00 ...