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Chinese ginger farmers slow down sales to drive the price up

Changes in the supply volume and supply speed of Chinese ginger show the unwillingness of Chinese farmers to sell their fresh ginger. The farmers are holding out until the price goes up. Current market conditions are not great. The number of visiting traders is small and the trade volume is small too.

First, market demand is weak. The number of visiting traders is small. The domestic market has not yet recovered from the outbreak of Covid-19 and its impact on the Chinese economy. In addition, summer is coming. That is traditionally an off-season for Chinese ginger. Even worse, some areas suffer repeated outbreaks of Covid-19. The pandemic continues to damage the Chinese economy. Consumer demand is not very strong at the moment.

Second, farmers are unwilling to sell their ginger. The trade volume is small. The price of ginger has generally been higher than last year and many farmers have already earned enough to compensate for the cost price. They are not in a hurry to sell their remaining ginger products and can afford to wait for positive market developments.

Visiting farmers are intimidated by high prices, and farmers are unwilling to sell when the price is too low. Few people are buying, few people are selling. The two sides are in deadlock. Domestic market conditions are not great at the moment and wholesale traders see little opportunity for profit. Some even lose money on their sales. The price is unlikely to rise much in the near future.

Source: jiang7.com


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