According to recent market data, over the past few days, the wholesale price for ginger was between 2.1 and 3.8 yuan/500g. This is a rise of 28.26% compared to last week. Compared to the same period last year, the price has increased by 227.78%. In the past few months, the ginger price appears to have been increasing constantly - up 47.5% in the past month alone.
Traders report that there are three reasons why the price keeps rising: the first is that, since May, Shandong farmers have entered their busy period, removing garlic shoots, reaping garlic and wheat, and combating droughts. The farmers do not have time to sell ginger. The second reason is that, from the start of May, capital has been pouring into the stock of ginger. The final reason is that, when the farmers see that the price is continuously rising, they are reluctant to sell.
At the moment, the ginger that is being sold on the market is from last year's summer season. In fact, the production area of ginger has been growing since the year before last. In last year's spring and summer, sales already appeared to be difficult. At that time, a part of the ginger that could not be sold was put in the ground. In spring last year, the production area constantly grew. That is why this year's supply of ginger is higher than last year's. The price probably will not be much higher than last year. Either way, the current price increase is quite unusual.
Source: Beijing Evening News