The garlic market has been running low and moving slowly since the new garlic hit the market at the end of June. However, two weeks ago, the Chinese market was gradually liberalized and many epidemic controls were lifted, and many overseas customers got the news and increased their orders, and Chinese garlic orders rose sharply.
On the price side, garlic prices started to rise moderately a week ago. There are two main reasons for the price increase. "First, it was the change in the exchange rate. Half a month ago the exchange rate between the US dollar and the Chinese yuan was 7.2 RMB per US dollar, now it is 6.95 RMB per US dollar (the exchange rate fluctuates), and the change in the exchange rate has increased the cost for importers to some extent. Secondly, with the liberalization of the epidemic in China, many customers want to place orders before the Chinese New Year holiday, leading to a short-term increase in demand. Prices have been changing daily in recent days with significant fluctuations.