The new season of ginger began to be harvested in early October, the storage of fresh ginger has been completed, and the ginger out of storage has started to be exported. Due to the low price of ginger last year and the reduction in the planting area, the yield this season has dropped significantly. The shortage of market supply has led to the recent rise in ginger prices.
Manager Wang is from the ginger exporter, Shandong Zhuoyi Import and Export Co., Ltd. He introduced us to the recent market and export situation, "Currently the price of ginger is very expensive. Firstly, because the overall production of ginger in 2022 dropped by 30%-40%, the market supply is less. Secondly, due to the heavy rainfall in the main producing areas of Shandong from mid-July to mid-August, the overall quality of ginger this season is not as good as before, and the prices of high-quality products are relatively high. "
"At present, European customers have a large demand for ginger, and it will take time for them to accept the high price. In terms of price, the exchange rate of RMB to the US dollar has changed drastically recently in the ginger market. Currently, the price of FOB Rotterdam of 10kg of air-dried ginger is about 2,200 USD/ton. "
When talking about the expectations of the ginger market in the next few weeks, Wang said, "I think the price of ginger will continue to rise. First of all, the Chinese market is gradually opening up, the domestic market demand in China has increased, and the decrease in new crops has led to high prices. Secondly, the cost of sea freight has basically stabilized. At present, the price from Qingdao Port to Rotterdam Port has dropped to 2,000 US dollars per container, basically returning to the normal level."