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Himfr Reports on Increases in China's Garlic Prices

2010-07-20 18:52 2163

BEIJING, July 20 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports on China's garlic prices soaring again, with expected declines in price not happening.

In early April of this year, garlic prices were 11.8 yuan/kg. Although it was thought that this would be the peak price, garlic has since risen to 13 yuan/kg. Further rises in garlic prices depend on a number of uncertainties and other factors. However, due to cuts in garlic production and a substantial increase in exporting, it is unlikely that garlic will experience a drop in domestic price in China in the short term.

This year, northern China has experienced huge fluctuations in garlic prices, from 11.8 yuan/kg in April, to a mid-May price of 7.4 yuan/kg, and finally to 13 yuan/kg in mid June -- the highest recorded price in recent years. In mid-August, this trend of fluctuation is expected to end.

Further fluctuations in garlic prices are dependant on several factors. First of all, in recent years, China's garlic exports have increased year by year, affecting domestic prices. Whether exports will further increase is a variable that can't easily be predicted. Another obvious and uncertain factor is the amount of domestic demand this year.

At present, this is the time for new garlic storage, due to increased storage capacity, the market for garlic has been reduced, and higher garlic prices during this period are a seasonal norm. Currently, the factors leading to a higher price of garlic have not changed; therefore, a sharp decline in garlic price is not predicted in the near future. Once mid-August arrives, new garlic storage will end and the trend of high prices in garlic is expected to abate.

About Himfr.com

Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. Himfr.com offers a variety of high quality products such as wrinkle filler (http://www.himfr.com/buy-wrinkle_filler/ ), cooking thermometers (http://www.himfr.com/buy-cooking_thermometer/ ), tanita scales (http://www.himfr.com/buy-tanita_scale/ ) and more.

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Himfr.com
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Source: Himfr.com
Keywords: Retail
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