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Chinese ginger prices picking up from low levels

Produce prices this year have made growers very worried. Not only did their produce not fetch a good price, but it also faced poor sales. In order to avoid losses, growers had no choice but to lower their prices again and again in order to clear the crops as fast as possible. For example, garlic was sold for 0.3 yuan in some major production areas. Ginger also saw low prices. Since the beginning of the year, due to poor business in the catering industry, demand has greatly reduced and ginger on the market could only fetch about 2-3 yuan per half a kilo.

After a few months of development, the market economy across China has recovered since August, and the demand for produce has begun to pick up. For example, the price of ginger has begun to rise to about 6 yuan per half a kilo, which is higher than in the same period last year. The current market conditions are beneficial to growers, as young ginger has just become available on the market and can be marketed at a good price.

Source: Toutiao


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