Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (71417)	12/5/2009 10:13:34 PM
From: Snowshoe	Read Replies (1) of 74559

The Middle Kingdom blows a garlic bubble... China sees huge rise in garlic prices Speculators accused of cashing in on people's swine flu fears washingtonpost.com Wholesale garlic prices in Beijing are now 15 times as high as in March, and still rising. Jerry Lou, a Morgan Stanley China strategist who has researched the opaque market here, said speculators -- fueled by the abundant liquidity sloshing around China -- have moved into the small market and strategically driven up prices. "You need a warehouse, a lot of cash and a few trucks. That's how it works," Lou said, describing garlic speculators' tools of the trade. "Basically, what you do is try to arrest as much supply as possible, then you bid up the price. Moving garlic from one warehouse to the other, you make millions of dollars."

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