China: Adequate supply leads to a drop in ginger prices

In November, the price of Shandong ginger production continued to fall, and then stabilized and rebounded. Sales of turmeric were also slow, even though supply from the fields was normal and there was plenty of stock in cold storage, which directly led to a significant drop in the price of ginger.

On the demand side, sales on the domestic wholesale market were weak throughout the year and the demand for foreign trade exports is not high. The enthusiasm for cold storage merchants is also significantly lower than that of the same period of last year. With the lack of capital and enthusiasm, the overall demand for the ginger market is not good. The supply of goods increased and the market demand was weak, which led to a lower price. However, since the end of November, this situation has begun to show a marked improvement. 

At present, the amount of ginger on the Shandong market has gradually stabilized. Although the amount of ginger is sufficient, quality produce is still scarce, and this gives room for the price of ginger to rebound, though it is unlikely to rise significantly.

Source: CNR

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