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China: Ginger market looks back on 2018 and makes predictions for 2019

Price fluctuations in the Chinese ginger market were quite small in 2018. The overall surface area devoted to Chinese ginger increased, but weather conditions caused the production volume and the product quality to decline. The highest price for Chinese ginger in 2018 was around 6.80 yuan [0.98 USD] per kg. Among the highest prices of Chinese ginger in recent years, 2018 was one of the lowest. The lowest price in 2018 was around 3.90 yuan [0.56 USD] per kg. Among the lowest prices of Chinese ginger in recent years, 2018 was surprisingly among the highest. The difference between the highest and lowest prices in 2018 was only around 2.90 yuan [0.42 USD] per kg.

Limited production volume, poor product quality, and high product loss all point in the direction of reduced market supply in 2019. If the price remains high early in the season, then demand is likely to decline. The price will not be able to maintain a high position later in the season under these conditions. However, if the price comes down early in the season, then the price will certainly rise again later in the season. The current enthusiasm of traders with storage is low. Traders are waiting for market developments to become clear before they decide to purchase fresh ginger for storage.


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