The new harvest of Chinese ginger has already been brought in. The first ginger to be harvested has been in storage for a period of 40 days and is now entering the export market in small volumes. Manager Dong, a spokesperson for the Yinuo Company, recently talked about the current conditions in the Chinese ginger market.
"The domestic production volume of ginger significantly declined last year. The trade volume was much lower than usual. In addition, the outbreak of Covid-19 stimulated domestic consumer demand for ginger. The reserves of last season's ginger quickly dwindled and the market has been starving for fresh ginger for months. The overall surface area devoted to ginger plantation expanded this year and the production volume is larger than last year. That is why we expect the storage volume to increase in comparison with last year, but not by much, because the market has already absorbed much of the new harvest," explained manager Dong.
The price of Chinese ginger showed a sudden and significant rise in May and this trend has continued ever since. Many overseas buyers in Europe and the USA have turned their attention to ginger suppliers in Brazil and Peru instead. That is why the price of South American ginger also increased. The prices were so high in July that overseas buyers began to reduce their order volumes.
Now, four months later, these customers are running low on stock. However, the product quality of ginger is quite high this season, so buyers receive value for their price. In addition, ginger processing factories have been extra careful with their procedures during this pandemic, which puts the buyers even more at ease about product quality. Overseas buyers have now begun to show more enthusiasm and the order volume is growing.
According to manager Dong, the Chinese market has once again become the dominant supplier now that the supply seasons in Brazil and Peru are over. The export price of organic ginger is around 2,550 USD per ton. "I believe that it will take some time for fresh ginger to replace old ginger in the market, which is why the price of ginger will not immediately drop when fresh ginger enters the market. The price is set to remain high for some time."
Anqiu City Yinuo Foodstuffs Co., Ltd. is a company specialized in Chinese ginger export. The company holds relevant certifications including GAP, BRC, Organic, GRASP, and SMETA. "We have years of experience in the Chinese ginger industry in particular when it comes to the plantation, management, quality control, storage, processing, and export of organic ginger. Our organic ginger is traceable to the original production area, and we are able to satisfy diverse market demand. The ginger we provide can be sold in supermarkets or processed for ginger-based drink products. We welcome inquiries from clients interested in organic ginger products and invite them to contact us."
For more information:
Mr. Dong Ruicai - Manager
Anqiu City Yinuo Foodstuffs Co., Ltd.
Tel.: +86 13853607518