Fresh Garlic Price Trend and Forecast

Fresh Garlic Regional Price Overview

Get the latest insights on price movement and trend analysis of Fresh Garlic in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Fresh Garlic Price Trend for Q2 of 2024

Fresh garlic prices have been observed to be bullish throughout the discussed three month span of Q2’24. The quarter began on an elevated note as the farmers started hoarding their supplies in order to inflate the market, particularly in the key producing regions of India like Uttar Pradesh and Rajasthan. Therefore, there was a dramatic surge observed in fresh garlic prices suddenly. In some markets, these freshly elevated prices even impacted the regular household consumption of fresh garlic. Looking at these increased margins, the farmers in other regions like Kashmir also started planting garlic.
 

Fresh Garlic Price Chart

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As the summer approached the prices saw an even more rise contrary to the prior expectations. Primarily because the severe heatwaves in various parts of the country started taking a toll on the stored stocks. And as the stocks started depleting, the market’s supply crunch got even deeper. Some reports of Chinese garlic reaching Indian markets through Nepal came at the same time. This might have provided a little counterbalance; however, as mentioned, the fresh garlic prices remained inclined in the Indian markets for the majority of the said period.

Analyst Insight

According to Procurement Resource, the Fresh Garlic market will take some time to normalize again due to the current supply crunch.
 

Fresh Garlic Price Trend for Q1 of 2024

The fresh garlic market observed a mixed price trend during the first quarter of the year 2024. Garlic prices surged sharply across several Indian cities, almost doubling from the previous year due to reduced output from insufficient monsoon rains and strong exports. Influenced by a spike in exports and a poor kharif harvest, the prices surged in several Indian markets.

Production for the 2023-24 season is estimated at 3.7 million tonnes, slightly up from previous years. Export figures have also risen dramatically, with a 110% increase in the first six months of the fiscal year, driven by a decrease in output from China, which dominates the global garlic market.

Madhya Pradesh leads in India’s garlic production, followed by Rajasthan, Uttar Pradesh, Gujarat, and Punjab. Retail garlic inflation has been climbing. However, the arrival of Rabi crops in mid-March satiated the customers a little bit. Particularly in the key producing regions like Madhya Pradesh, as the prices regressed very slightly in the latter phase of Q1’24. Overall, a positive market performance was witnessed for garlic during the said time period.

Analyst Insight

According to Procurement Resource, given the current supply and demand dynamic in the domestic market and rising export volumes, Fresh Garlic prices are expected to surge further in the coming months.

Procurement Resource provides latest prices of Fresh Garlic. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.