InfoAnda - Garlic prices soar in China

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

China Telecom denies US web hijack allegations | 19 November 2010
Senate Democrats Say Burris Likely To Be Seated Later In Week | 13 January 2009
Amazon rolls out program to sync Kindle with PCs | 23 October 2009

Clinton visit raises hopes for embattled Pacific women | 1 November 2010

Forum Views () Forum Replies ()

Read more with google mobile : Garlic prices soar in China

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Garlic prices soar in China AFP - Thursday, December 10 Send IM Story Print Garlic prices soar in China Slideshow: Full Photo Coverage: Business & Economy SHANGHAI (AFP) - – The price of garlic has shot up 40-fold this year in China, the world's largest producer of the plant, in part due to an unexpected factor -- a popular belief that it can help ward off swine flu. Garlic has outperformed stocks, property and even gold after low demand due to the financial crisis late last year led Chinese farmers -- responsible for about three-quarters of world supply -- to plant less, slashing supply. The soaring prices have created a new breed of millionaire, as businessmen and savvy speculators cash in big on the newfound demand for the pungent bulbs. "Last year's dismal prices caused garlic production to plunge," explained Chen Shuwei, an analyst at Beijing Orient Agribusiness Consultants. "Now speculators have rushed in to buy up garlic by the truckload because the garlic market is relatively small and easy to manipulate." Last month, the wholesale price of garlic in eastern Shandong province -- the country's garlic-producing heartland -- rose to nine yuan per kilo (60 US cents a pound), from 0.2 yuan a year earlier, state Xinhua news agency reported this week. "Prices started to surge around September," said Zhao Fangling, the general manager of a garlic processing company in Shandong's Jinxiang county. "Garlic was so cheap in the previous two years that some of it was just dumped as trash. Farmers lost money and stopped planting it so supplies dropped by 30-40 percent," he said. The bulbs have been given a boost partly due to renewed fears over swine flu, as traditional Chinese doctors have recommended garlic as protection from A(H1N1) influenza. In the eastern city of Hangzhou, one high school bought more than 180 kilos (400 pounds) of garlic for students to eat at lunch to boost their immune systems, the state-run China Daily reported. An expert at the Beijing Centre for Disease Control and Prevention, Wu Jiang, this week cautioned that there was "no scientific proof" that garlic could combat the flu. The virus has so far killed more than 300 people in China, with almost all of those fatalities reported in November and December. Regardless of garlic's potential health benefits, its money-making properties are stirring the most interest. Xinhua reported this week that businessmen in Wenzhou -- known for speculating on everything from coal to Dubai real estate -- have added garlic to their portfolios, buying 50 million yuan (7.3 million dollars) in bulbs. Keen investors have been spurred by stories such as that of Shao Mingqing, a 22-year-old jobless man who was photographed by the national press leaning on the black Toyota he bought after selling his garlic stash. Shao borrowed money to buy 100 tonnes of garlic in September and then sold it a month later at a 125 percent profit of 400,000 yuan, according to the China Daily. Another garlic trader told the newspaper that he bought a 300-square-metre (3,300-square-foot) house with his profits. Chen, the agribusiness analyst, said he had heard that a group of warehouse workers in Jinxiang county had become yuan millionaires by quickly turning over a 700-tonne garlic hoard. "Basically you need to store as much as you can and bid up prices," he said, adding speculators may be benefiting from the surge in bank lending that has accompanied China's economic stimulus package. Garlic stocks in Jinxiang have fallen to 800,000 tonnes, just over half of what they were last year, said Zhou Xuefeng, a 39-year-old garlic farmer and the Communist Party branch secretary in the village of Jinyi. "After two years of dismal sales, many garlic farmers lost heart and they didn't believe garlic prices could go up anymore, so they spent less on planting garlic, and production dropped sharply," he said by telephone. Zhou estimates supply will fall 400,000 tonnes short of demand this year, but he expressed fears that the price boom could lead to an oversupply in coming years that will drive prices down. Restaurants meanwhile are already scaling back on their garlic use. In Shanghai, unlimited chopped garlic is quickly becoming a thing of the past. "It's too expensive. The boss said we cannot afford to give too much now," a waitress at the Tumen BBQ restaurant said when asked to fill up an almost empty jar of garlic. "We might charge for that in future." Recommend Send IM Story Print Related Articles Barclays says cooperating with India regulator on derivatives Reuters - 1 hour 17 minutes ago New health care benefits come at a price AP - 1 hour 31 minutes ago Hedge funds tip-toe toward an uncertain future Reuters - 1 hour 31 minutes ago Hikal expects 15-20 pct revenue growth in FY10 - exec Reuters - 1 hour 33 minutes ago China Longyuan debut gains checked by U.N. rebuff Reuters - 1 hour 35 minutes ago News Search Top Stories Brown, Sarkozy in united front on bank bonuses Qatar emir calls for gas and oil price alignment Three women take Ireland to court over right to abort Britain taxes bankers' bonuses as recession deepens Greece says debt threatens nation, promises action More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Greece under pressure to take budget action Virgin unveils spaceship to offer space tourism Ohio executes inmate with single drug Woods' mother-in-law rushed to hospital US agency suggests Christmas gifts for the disaster age More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Mankind using Earth's resources at alarming rate Dubai blackout over debt plans to hit Gulf markets More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Thursday, 10 December 2009
Iraqi man, lucky dog reunite after Baghdad blast
Three women take Ireland to court over right to abort
Facebook rolls out new privacy tool
Pentagon chief warned over Afghan army problems
Britain taxes bankers' bonuses as recession deepens
NATO sees pick-up in Afghan combat, warns on deaths |
Pay babysitter on iPhone, says Twitter
Pakistani military has 'degraded' Taliban groups: US general
Greece says debt threatens nation, promises action
US-TECH Summary
Iraq's Maliki blasts foreign support for bombings
Thousands in Jerusalem protest settlement freeze |
Giant iceberg spotted south of Australia
France Telecom follows Apple's lead, launches applications
Egypt reported working on Gaza border wall |
Climate talks seek calm after fury at draft text
Facebook redraws site's privacy boundaries
Afghan civilians could have died in raid: NATO
Briton guilty of trans-Atlantic airline bomb conspiracy |
Settlers protest in Jerusalem against freeze
Iraq says deaths from Tuesday's bombings lower
Iran says former deputy defence minister held by U.S.
Apple to launch tablet in spring 2010: analyst |
5 Americans detained in Pakistan raid
Pay hike fosters uptick in Afghan army recruits
Neo-Nazi in murder trial gets makeover for trial
KRouge court dismisses bias claims against judge
Book returned to Ohio library after 60 years
Filipino worker beheaded by militants: official
U.S. hacker pleads guilty in more store break-ins |
NJ fugitive worked for Homeland Security in Ga.
Japan to give US base relocation plan next week
WWII veteran had Hitler's art book on bookshelf
Philippines files rebellion charges over massacre
France Telecom follows Apple's lead, launches applications |
Myanmar's Suu Kyi meets junta liaison: official
Japanese police praised for arrest of Hawker suspect
Gatorade drops Tiger drink; decided before wreck
AP NewsAlert
Recount to start in tight Atlanta runoff for mayor
US praises resettlement of Sri Lankan refugees
Dean embraces Senate compromise on health care
Thai Airways sues protesters over airport closure
Panasonic completes Sanyo takeover: source
VW to boost Indian presence with Suzuki stake
Statue of Obama as boy erected in Indonesian park
Suntory buys majority stake in China wine importer
Thousands gather in Indonesian anti-graft rallies
China says it will continue to push consumption
Morgan Freeman brings touch of God to Mandela film |
Dubai Islamic Bank's Pakistan unit expands operations
ABC to tap Stephanopoulos as co-anchor of GMA |
Volkswagen to buy 20 percent of Suzuki for $2.5B
Tyler Perry says mom, inspiration for Madea, has died |
Supermodel Bundchen and QB Tom Brady have baby boy
Supermodel Gisele Bundchen has first baby |
EU honours Neapolitan 'mother of all pizzas'
Seychellois man's Herculean pirate treasure hunt
Croatia's tourist figures slightly decrease
God of love exhibition set to open in Athens
Rwandan genocide film aims to promote reconciliation abroad
Brian Bonsall appears briefly in Colo. court
Depp to play Mexican revolutionary Pancho Villa
Charitable trust refiles `Dukes' royalties lawsuit
Aiken takes name off voter list, ending NC probe
News
News
News
News
News
Brown, Sarkozy in united front on bank bonuses
Amnesty says Iran rights at lowest ebb in 20 years
Climate change 'Plan B' awaits if diplomacy fails
Petraeus sees short-term rise in Afghan violence |
Iraq's March vote won't affect U.S. drawdown
'Anti-social network' aims to be Facebook killer app
Qatar emir calls for gas and oil price alignment
Iraqi MPs to question interior minister over blasts
China says opposed to U.S. arms sales to Taiwan |
Al-Qaida claims this week's deadly Baghdad blasts
Facebook privacy revamp draws fire
Iraq's March vote won't affect U.S. drawdown: Pentagon |
Zelaya talks to leave Honduras for Mexico hit snag |
Variety to begin building 'pay wall' around website
Thousands in Jerusalem protest settlement freeze
French, British leaders to meet after job spat |
Pakistani military has 'degraded' Taliban groups: US general
Nokia to close U.S. flagship stores
US residents gorging on data bytes: study
Colombia raps Venezuela over FARC rebel insult |
Saudi crown prince to return home after treatment
Briton guilty of trans-Atlantic airline bomb conspiracy |
EBay exec: Craigslist knew we could compete
Cisco and British Telecom head for the "cloud"
AOL going public after Time Warner divorce
Jerusalem protest against slowdown in settlement building
Nokia to close U.S. flagship stores
EBay exec: Craigslist knew we could compete |
US envoy has 'very useful' nuclear talks in NKorea
US aiding Pakistan in alleged terror plot arrests
Nokia to close U.S. flagship stores |
US, Russia closing in on nuclear agreement
Swine flu strikes isolated North Korea
Berkeley council sends hangers as abortion message
Facebook privacy revamp draws fire |
SF law on illegal immigrant youth to take effect
Philippine forces hunt for hostages after beheading
Obama departs for Norway to accept Nobel prize
Aussie firefighters face tough fire conditions
Mass. driver convicted of running over mother duck
Developing nations clash over climate targets
Colo. team predicts above-average hurricane season
U.S. online holiday spending up 3 percent: comScore |
U.S. envoy ends trip to North Korea
House Roll Call: How they voted on tax break bill
Hawaii leads nation in public health spending
Guam says can't take US base at centre of Japan row
China climate envoy criticises rich nations
Police eye clues in death of prominent LA lawyer
Five U.S. men arrested in Pakistan
House debates bank oversight changes
HIGHLIGHTS-S.Korea central bank chief's comments
Pakistan
Philippines says exports fall moderates
Hollywood eyes record $10 bln box office for 2009
"Twilight: Eclipse" to play in Imax theaters
Korea Hot Stocks
Hollywood breaks revenue record of $9.68 billion
Garlic prices soar in China
Taiwan dollar rises on exporter deals
Hollywood eyes record $10 bln box office for 2009 |
Seoul shares rangebound; muted response to BOK
Boyle's Dream continues at No. 1 on album chart |
Oprah's channel to feature film club series |
China extends, adjusts pro-consumption policies
NZ-Aussie dlrs treated differently
Rihanna announces UK arena tour |
220-million-dollar fine for Taiwan firm in price-fixing case
Bruce Springsteen speaks out for gay marriage |
Broadway star Idina Menzel heading to Glee |
Obamas, Winfrey talk gifts on Christmas special
Mormon US senator records 'catchy' Hanukkah tune
Supermodel Gisele Bundchen has first baby |
Galatoire's in New Orleans sells majority interest
Velvet Underground reunites -- to talk |
NC elections board ends exam of 'Idol' runner-up
Twilight: Eclipse to play in Imax theaters |
Velvet Underground reunites -- to talk
Bruce Springsteen speaks out for gay marriage
"Twilight: Eclipse" to play in Imax theaters
Rihanna announces UK arena tour
Shalev leaving 'The Early Show' on CBS
CBS pulls plug on 'As the World Turns' after 54 years
New Russian missile fails again in test: reports
Defense Secretary Gates arrives in Iraq
French army sides with Mozilla in Microsoft email war
Thai anti-government protesters demand new elections |
On Syria border: No sign of Saddam loyalists
Russian nuclear missile test fails, visible in Norway |
Embattled Iraq insurgency shifts tactics, eyes poll |
Human rights violations in Iran worst for 20 years: Amnesty
Gunmen hold 57 hostages in Philippines |
Afghanistan no worse than Iraq in 2007: US general
Human rights violations in Iran worst for 20 years: Amnesty |
China detains three in new toxic milk scare |
Europol arrests 115 suspects in child sex raids |
Frigid temperatures follow heavy snow into Midwest
French army sides with Mozilla in Microsoft email war |
Video games take bigger role in education |
Company: Cobalt mining in Idaho to start in 2011
Malaysia charges 3 for graft in huge port scandal
N.Korea accepts S.Korea swine flu aid offer
US: American soldier dies in Iraq
Others 'more deserving' of Nobel award: Obama
Nokia pulls plug on U.S. flagship stores |
SKorea vows to go ahead with Afghan troop dispatch
Court to rule if Polanski can fight case from afar
Swimming golds take Singapore top of SEA Games table
SF Bay schools phase out gay-friendly curriculum
ADB: Philippine poverty up despite economic growth
Officials: Gang rivalry led to Calif. prison riot
All children among Philippine hostages released
Experiment to test killing 1 owl to help another
India seeks Chicago man for Mumbai questioning
Promotion day arrives for white Conn. firefighters
Statue of Obama as boy erected in Indonesian park
Taiwan says no to Tiger Woods-style animated news
US-ENTERTAINMENT Summary
Pakistani o/n rates ease; rupee flat; stocks up
Dubai stocks close on strongest gain since crisis
S.Korean economy to grow 5 pct in 2010: ministry
WRAPUP 1-Bank of Korea flags earlier rate rise
Surging Chinese property prices stoke bubble fears
India's Gurinder Chadha tackles migration with humor |
Audacious actress got close to the president
Malaysian firm buys Friendster social network site
Court to rule if Polanski can fight case from afar
China says US, Russia dumped electrical steel
Azerbaijan's traditional music thrives again
India food prices jump 19 percent on poor rainfall
Bali Democracy Forum opens in Indonesia
Hong Kong women shrug off tattoo taboo
Bikini Baristas Ruled Adult Entertainment
Ceausescu's final hours depicted in new play
High School Student Suffers Heart Attack After Tryouts
Van Dyck self-portrait sells for £8.3 mln
Recount Confirms Winner Of Atlanta's Mayoral Race
Police Arrest Suspect In Brutal Rape, Kidnapping OF 91-Year-Old Woman
US-ENTERTAINMENT Summary
USIBC Commercial Nuclear Mission Holds Talks with NPCIL
India's Gurinder Chadha tackles migration with humor
Cops Find Robber Using GPS-enabled Microwave
Poverty in SAfrica: 3 cows and a forced marriage
Sister of Clemmons Charged In Connection With Case
Obama Administration Opens Federal Coffers To Weather Battered Virginia
Oprah's channel to feature film club series
South Carolina Panel Votes To Censure, Not Impeach, Gov. Sanford
In Oslo To Receive Nobel Prize, Obama Says 'Others More Deserving' Of Award
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01