In October 2022, the inventory of ginger was relatively limited. The current market is short of commodities, and the price is rising. Manager Zhang is from Jining Greenstream Fruits& Vegetables co. Ltd. The company exports a large amount of ginger to the Eastern European market. In an interview with FreshPlaza, Zhang introduced the recent export market of garlic.
In terms of inventory, the ginger harvest in October 2022 has decreased by about 40% compared with previous years, and the inventory is limited. "Due to the small quantity of products on the market, I heard that some import companies have even started to import ginger," said Zhang. "In terms of price, the overall price of ginger has increased by about US$300/ton compared with two weeks ago. Currently, the price of preserved ginger is USD 2,000/ton, and that of air-dried ginger is USD 2,700/ton."
"Currently, it is difficult for overseas markets to accept Chinese ginger. There is still a lot of Brazilian ginger in the European and American markets. The price of Brazilian ginger is cheaper than Chinese ginger, and it is easier to be accepted by the market. Chinese ginger will have a certain degree of difficulty in sales in the short term."
"In terms of logistics, the cost of foreign trade logistics will continue to decrease in 2023, which is beneficial for fruit and vegetable trade. Now the freight rates in most areas have returned to the levels before the pandemic. It is worth mentioning that in mid-January 2023, China relaxed the control of Russian truck drivers entering China, the logistics cost between China and Russia has been significantly reduced, and the speed has also been accelerated, reducing the risk of foreign trade practitioners," Zhang said.
"However, I think the impact of the drop in logistics costs on export volume is still limited. At present, the biggest problem is that the purchasing power of foreign markets has not recovered,” said Zhang.
In addition to ginger and garlic, grapefruit and lemon are also the main products exported by Jining Greenstream Fruits& Vegetables co. Ltd. The company participated in Fruit Logistica Berlin from February 8th to 10th. This was also the company's first participation in the exhibition after the outbreak. "We met many new and old customers, and we are quite satisfied with the exhibition."