The Chinese markets for ginger and garlic stabilized in December and there have been no major fluctuations since then. The shipping cost is coming down, but remains much higher than usual. This affects the export of Chinese ginger and garlic. Manager Zhang, a spokesperson for Jinan Wantao Food Co., Ltd., recently talked about current conditions in the export markets for Chinese ginger and garlic.
Jinan Wantao Food mainly exports to Europe, the Middle East, and South Asia. "Supply to overseas markets exceeds demand because the Chinese export volume has recently been quite large and market demand has been weak. Our delivery volume is quite small at the moment. The price of fresh ginger was around 2,000 USD per ton when fresh ginger just entered the market in early November. Now the price is only around 1,600 USD per ton."
"As for garlic, the price began to drop after Chinese Spring Festival [12 February, 2021]. There are several reasons for this development. First, the supply volume of old ginger from warehouses was still quite large. Second, the current crop of garlic is growing well. The market expects the first harvest of fresh garlic to take place in the middle of May and the product quality looks promising. Furthermore, overseas demand has gone down because distribution is more difficult during the pandemic. That is why the overall market price of Chinese garlic is quite weak. The FOB price of Chinese garlic destined for the European market was recently around 960 USD per ton," said manager Zhang.
When asked about market conditions in the coming weeks, manager Zhang replied, "I think that the ginger market will steadily grow stronger, but the garlic market does not look so good. The actual conditions will depend on the new harvest."
In addition to ginger and garlic, Jinan Wantao Food also exports onions, apples, pears, Chinese chestnuts, potatoes, and taro. They also export processed products such as ginger slices, garlic powder, and garlic cloves. The company has an annual export volume of around 2,000 shipping containers.
For more information:
Zhang Chunjian - Manager
Jinan Wantao Food Co., Ltd.
Tel.: +86 13561730391
E-mail: wantaogarlic@china.com