Recently, the continuous decline in the price of ginger in the Chinese market has aroused people's attention. In the vegetable wholesale market, ginger is mostly 8-10 RMB/kg, and the price of ginger with relatively poor quality is even lower, only 5 RMB/kg. The overall price is lower than the highest price of 24 RMB/kg in the same period last year. Since the beginning of this year, the price of ginger has continued to fall, a drop of more than 50% compared to the same period last year. The reason is that since the price of ginger rose sharply in 2020, farmers have stored a large amount of ginger for sale in the coming year. In addition, the increase in ginger planters and production has caused the price of ginger to fall.
Some merchants said that the harvest of fresh ginger starts in winter, but as an indispensable cooking product, ginger can be supplied without interruption throughout the year. At present, most of the ginger in the market is "aged ginger" stocked by ginger farmers. The volume of fresh ginger is not large.
The price of ginger has been high for seven consecutive years. In 2020, the price of ginger reached its peak, and the retail price once exceeded 10 RMB, indicating a very good market. The price increase in the past few years was related to the disasters in various places. At the same time, the cost of planting ginger was higher. A large number of farmers have given up planting, and the market demand far exceeds the supply. In contrast, in 2021, after continuous price increases, a large number of farmers poured into the ginger industry, and the reversal of supply and demand has resulted in currently low prices.
The decline in the price of ginger is a continuous process, starting from the beginning of 2021 when the new ginger went on the market in early October, the decline was the fastest. For wholesalers, the lowering of ginger prices has almost no impact on the profits of the wholesale industry, but it means that the business risk of buying and selling is reduced.
Ginger farmers: Exports have decreased, and rain has caused aged ginger to enter the market ahead of schedule
There are many reasons for the price reduction of ginger, the most important of which is the impact of exports and rain in summer and autumn. There was only little ginger export trade in 2021. Some ginger farmers said that after the fresh ginger was produced in October, wholesalers from various purchasing points went to the place of production to purchase. The difference in 2021 was that almost no one purchased ginger for export. In addition, affected by the heavy rainfall in 2021, the ginger that ginger farmers originally stocked was put on the market ahead of schedule. A large amount of ginger poured into the market, and the price of ginger continued to decline.
Source: iJinan
