The demand for Chinese ginger and onions in overseas markets has surged. As a result, most Chinese exporters have experienced supply shortages, and this is expected to continue for some time. Zhang Chunjian, manager of Jinan Wanxin Foods Co., Ltd. talked about recent ginger and onion market conditions.
Europe, the Middle East, and South Asia are the main export markets of Jinan Wanxin Foods. “Due to a sharp reduction in ginger production last season, the stock volume is low and there is a shortage in supply, resulting prices to climb up continuously,” Zhang said. “The recent market volume is about one-third of the normal amount. The current export price is about US$2,500 per container, which is more than double that of last year."
The new season crop is to be harvested in mid to late October. The production area has increased this year and the production is expected to increase significantly over last year. Prices are expected to fall after the new crop becomes available, but it is yet too early to tell.
In mid-September, India announced a complete ban on the export of onions. As soon as the ban went public, importers from all over Southeast Asia and South Asia turned their attention to China. "In a few weeks, market demand surged and supply shortages led to spikes in pricing. The increase in demand in overseas markets has also had a certain impact on local sales. At present, onion prices in the Chinese market have also risen,” Zhang said.
In addition to garlic, Jinan Wanxin Foods also export ginger, onions, apples, pears, chestnuts, potatoes, taro, and other fruits and vegetables, as well as deep-processed products such as pickled ginger slices, garlic powder, and garlic granules. Currently, Europe, the Middle East, South Asia, South America, and North America are the company's main markets, to which it exports about 2,000 containers each year.
More information:
Contact: Zhang Chunjian
Company: Jinan Wanxin Foods Co., Ltd.
Tel.: +86 13561730391
Email: [email protected]