The domestic market price of Chinese ginger is already quite high. However, changes in market demand suggest that there is still room for the price to rise even further, especially in the second half of this year. The price of top-quality ginger is expected to break the record of 6 yuan [0.84 USD] per 0.5 kg. Farmers who can capitalize on this development and sell their ginger on time stand to profit a lot.
The variety of processed ginger products is growing rapidly. This includes dried ginger, ginger slices, and pickled ginger, as well as ginger powder. There is a lot of choice in the ginger market. And as the demand for fresh ginger is growing, the price naturally goes up.
In addition, the overall production volume of fresh ginger is not that large this year. Some of the production areas suffered from natural disasters and their production volume declined. This stimulates the price of top-quality ginger in particular. The price of fresh ginger is not likely to show a significant downward trend this year. On the contrary, the price is likely to rise even further in the short term.
Source: Jinri Toutiao