"European market demand for Chinese ginger recently declined as the European countries entered their off-season. Chinese ginger export to Europe subsequently slowed down and the export volume decreased. At the same time, market demand from the Middle East and America grew stronger. This development makes up for the decline of Chinese ginger export to the European market." This is according to manager Jason of Anqiu Tailai Foods Co., Ltd.
"The export price of Chinese ginger showed a continuous rise in recent weeks. The CIF price of Chinese ginger was around 1,500 USD per ton in March and April, but has now increased to around 2,000 USD per ton. However, in the end, this price is still acceptable to our clients in the Middle East and America."
Farmers harvest fresh ginger
"As for the domestic market, the current purchase price in production areas is 3.6 yuan [0.51 USD] per 0.5 kg. In comparison with the export price, the domestic price is soaring. This is mainly because traders are speculating in the ginger market. Furthermore, ginger processing factories have very specific requirements for the size, product quality, and pesticide residue of fresh ginger, which also puts pressure on the price. Farmers are therefore inclined to sell their ginger to intermediaries and let them handle the complications of ginger export. This gives intermediaries the space to speculate on ginger prices in the domestic market."
For more information:
Jason - Sales manager
Anqiu Tailai Foods Co., Ltd.