Garlic's Price Surge: A Whiff of Opportunity for Traders

Garlic’s Price Surge: A Whiff of Opportunity for Traders Strong Demand, Dwindling Crops, and Rainfall Prospects Influence the Garlic Market

Mintec Global
Spread the news!

According to market experts, garlic prices are poised to experience a “stinking good” deal, soaring by a remarkable USD 24.20 by August. With a daily influx of 75 thousand bags of garlic in Madhya Pradesh, the price per kg ranges from $0,54 to $1,02 while premium quality garlic commands prices of $1,33 to $1,40.

This surge in garlic prices can be likened to a sizzling demand from international markets, with Bangladesh leading the way. As China’s garlic crop shrinks, Bangladesh has turned to India, leaving other countries like Malaysia with a garlic breath of interest. The garlic crop in Madhya Pradesh has faced its share of challenges, yielding only 65% of expectations this year. Rajasthan’s crop fares even worse at a mere 50%, while Gujarat experiences a “garlic drought” as well. Saurashtra has witnessed a modest 25% entry of farmers’ goods into the market, reserving the remaining 75% for more “flavorful” times or as dictated by the monsoon’s progress.

It is expected to maintain its current stability until the rainfall showers grace the garlic market. However, the market may experience some spicy fluctuations following the onset of rain. Presently, market subscription is as cool as a cucumber. Industry insiders believe the garlic market’s prosperity relies heavily on favorable rainfall. The decision of farmers to withhold their superior-quality goods has contributed to the decline in arrivals. Once the market’s aroma becomes more enticing, the remaining high-quality goods will be unleashed, providing a more savory selling opportunity.

The demand from stockists has been garlicky promising this year, resulting in a surge of garlic stocks compared to the previous year. This has sparked fragrant hopes among industry participants, igniting expectations of further price hikes in the garlic market.

Import/Export Statistics

Please click to reach our marketplace