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China: Mid-Autumn Festival stocking, ginger prices have risen for 4 consecutive days

After the price of ginger experienced a fluctuating decline last week, the Changyi production area took the lead to raise the price, followed by the Anqiu production area, and other production areas also started the process of raising prices from the beginning of the week. The price of ginger ushered in four consecutive rises. Last week, the ginger trading continued for 6 days of weak market turnovers. With the increase of ginger sellers in Tengjiao and the increase in continuous rainfall in the earlier period, the market supply is abundant. Merchants in the wholesale market are purchasing products at low prices, and the overall market is not active.

The price of ginger has reversed this week, rising for four consecutive days. The fundamental reasons are the following:

1. The Mid-Autumn Festival is approaching. In order to prevent the emergence of problems such as poor access to goods and poor allocation of vehicles in the later market, many merchants have the intention to stock up in advance. Therefore, starting from last weekend, the purchase is more active, which provides a part of the reason to stimulate the price increase.

2. Then there is the intervention of stockers, who believe that the price is now at a relatively low point, and wait until October to resell, which is also the main factor.

3. Nowadays, farmers generally have the mentality of selling at lower prices rather than higher prices. Because the price continues to rise, a wait-and-see sentiment is on the rise, so the overall supply of goods is less than usual, and the asking price is still high, which results in the price being high all the way.

4. In some minor production areas, the gingers are mostly of poor quality, and the high-quality supply is not well organized. They start to switch to the main producing areas for purchases. Therefore, there will be situations of a rush for the limited products. The flow of these merchants also explains part of the elements for price increases.

5. Some export processing factories have received new orders. Although the current prices have risen, they are still purchasing suitable sources of goods on demand, which has a certain boosting effect on the current market.

As the new-round harvest time is approaching, the current supply of ginger in the hands of farmers is still abundant. If the cold storage supply starts to be taken into the market, and the existing sellers in the market are fully stocked, some analysts believe that the market atmosphere will return to calm. If the market does not have large consumption to balance, it is expected that the price of ginger may decrease significantly in the short term.


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