This week (March 15th--March 22nd), the price of fresh ginger from Boshan District in Zibo City, Shandong, increased for the first time since the Spring Festival. Data from the Boshan District Price Bureau show that the market price of fresh ginger this week was 4.5 yuan [0.71 USD] per 0.5 kg. That is an increase of 12.5% in comparison with last week's 4 yuan [0.63 USD] per 0.5 kg. It is also a 10% decrease in comparison with the 5 yuan [0.79 USD] per 0.5 kg during the same period last month (Spring Festival period), as well as an increase of 12.5% in comparison with the 4 yuan [0.63 USD] per 0.5 kg during the same period last year.
Analysts say that the price of fresh ginger increased this week for the following reasons:
1. The busy season in farming started recently and so the supply source gradually decreased while the market demand remained stable.
2. Wholesale dealers and farmers with storage bring less supply to the market after the Spring Festival and at times there is a shortage.
3. Fresh ginger farmers have less supply volume to bring to the market as a result of rainfall. In addition, visiting traders are slowing down their
purchasing and sales activities.
It is estimated that the price of fresh ginger in the Boshan District will continue to steadily rise.
Source: Boshan District Price Bureau