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Garlic: Incredibly hot market position

November 1, 2016 at 8:38 AM , Der AUDITOR
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HONGKONG. Traders are currently asking absolutely outrageous prices. How shamelessly high will they become yet?

Chinese crop continues to boost prices
The market is still very tense after crop figures from China raised prices significantly. Traders from the Netherlands and South Africa, known as traditional consumers of Chinese garlic, are trying to cover their requirements through long positions until the new crop is in. In doing so, the price is of secondary importance.

Spain and Israel profit
Spain and Israel profit from this development. The traders here are confident that the region’s products will also find buyers. At times, there are reports of fresh garlic from Israel for prices at a level of 6.30-9.50 EUR/kg FOB.
Prices for Chinese garlic have almost tripled in the course of the year.

price, garlic, dried, China

product

Nov 15

Jun 16

Aug 16

Sep 16

Oct 16

garlic, dried

2,300

4,500

6,000

8,500

  8,800

status: October 2016                                             USD/mt FOB

 

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