“The order volume for Chinese ginger from European companies has significantly decreased since the COVID-19 pandemic spread to Europe. We were able to deliver large volumes of fresh ginger in the last few weeks, but our export volume is now shrinking again.” This is according to Manager Ma of Anqiu Xinheng Food Co., Ltd.
“Europe is our main export market. Many European importers have temporarily stopped import activities since the COVID-19 pandemic increased in severity. Our volume of orders decreased by 30% in comparison with the same period last year. While European clients reduce their import volume, we as suppliers have our own worries too. Once work stops, the products we already shipped will have difficulty to reach their destination port and pass through customs in time,” explained manager Ma.
“As for the price, the Chinese market for ginger is quite weak. The price of raw material is around 5-5.4 yuan [0.70-0.76 USD] per kg. That is a decline of around 30% in comparison with last year. The export price of Chinese ginger also declined as a result of the lower price of raw material and the small volume of overseas orders. The export price dropped from 1,800 USD per ton to around 1,600 USD per ton in a matter of weeks.”
Anqiu Xinheng Food Co., Ltd. is a specialized ginger export company. The company exports around 1,500 tons of Chinese ginger per year. “We resumed business in late February. Since then we have processed and released one shipment for the European market. Although the overall export volume does not live up to last year’s conditions, we still enjoy stability. The market absorbed a large volume of fresh ginger earlier in the season, so our reserve volume is not that large. However, with the spread of corona virus to the European market, our ginger export season seems to have come to an end almost two months earlier than usual. This results in a lot of insecurity for Chinese ginger exporters.”
For more information:
Mr. Ma – Manager
Anqiu Xinheng Food Co., Ltd.