China: Prices for old ginger from Jinan have fallen

According to statics from the Lixia District of Jinan, the price of old ginger in Carrefour's has fallen. On 2, November, the kilo price was RMB 4.98, down by 14.1% compared to last month but it remains at the same level as the price from the same period last year.

There are a few reasons for the falling price. Young ginger has been available on the market since mid October and the supply has been stable. Also, because of the good prices last year, farmers increased their production areas, which led to a larger crop and drove down the price of the old stock. Furthermore, the quality of the young ginger this year is good and sales has been smooth because of the low prices. The young ones also look better and have thinner skins, which are more appealing to consumers. Thus, the possibility of an increase in the price of old ginger is very slight.

Source: Bureau of Commodity Price of Lixia District, Jinan

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