October export volume of ginger was still declining, no significant increase in average export price

According to customs statistics, the export volume of ginger in October 2022 decreased year-on-year and month-on-month, but the average export price increased though not significantly.

With the end of the harvesting season in the north in October, the collection and storage of green crops has come to an end, and export processing plants turned their targets to turmeric again. However, in China, the domestic turmeric price is relatively high at this stage, and farmers are also relatively persistent in increasing prices, and processing plants are not willing to buy goods at high prices. Mostly, the purchase plan is according to the order, and the impact on the price is limited.

According to customs statistics, ginger exporters in October 2022 are mainly from the United States, the Netherlands, Malaysia, the United Arab Emirates, and Bangladesh. Although the import volume of several countries with the highest monthly import volume from China increased in October, the decrease in import volume from countries such as the United Arab Emirates, Bangladesh, and Saudi Arabia is still relatively large.

It is expected that the export volume next month will be stable month-on-month
October is generally a month with less export volume. First of all, according to previous years, most export processing factories choose not to accept export orders without expected profits. It is understood that the number of export orders in the first ten days of November is not small, but after entering the second half of the year, the orders tend to decrease, and most processing plants purchase according to the order needs. It is expected that the export volume and average export price may be stable in November, but the profits of most export processing factories are still not high.

Source: myagric.com


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