Chinese ginger prices jump as output falls

Ginger prices in China have been rising this year as output has fallen, prompting repeated calls for the building of a better information system to protect the interests of both farmers and consumers.

According to information on the trading platform of agricultural products, ginger prices were quoted at around 13 yuan to 14 yuan per kilogram, almost at the same level of pork prices.

Compared with the same period last year, prices have doubled.

Qiu Fengyi, an analyst with industry website www.jiang7.com, attributed the price rise to falling production as farmers have reduced plantation due to the sluggish market in the previous years. Meanwhile, natural disasters have hit yields in major growing areas.

The price roller coaster of agricultural products is not new in China. Previously the prices of beans and garlic have experienced similar drastic ups and downs as farmers lacked timely information of market demand.

To better protect the interests of both producers and consumers, the information system of agricultural products needs to be improved to guide farmers in a timely manner, analysts have urged.

Food price accounts for about one third of China's consumer price index (CPI), a main gauge of inflation. The country's CPI increased 2.3 percent year on year in June, down from a 2.5 percent growth in May.

Source: www.ecns.cn