The price of Chinese ginger began to fall after National Day [1 October]. Some traders with stock in storage suspected that the price had already reached its low point. They slowly began to supplement their stock, which caused a temporary rise of the ginger price. However, the sales season of old ginger is slowly coming to an end and the new ginger production season has officially begun. Moreover, the production volume is relatively large and the product quality is quite good. These developments together put pressure on the price of ginger, which is falling again as fresh ginger enters the market. The price is expected to maintain a downward trend for the foreseeable future.
"We mainly export our ginger to Saudi Arabia, Dubai, Qatar, Pakistan, Ukraine, and the Netherlands. The price of air-dried ginger destined for the European market is currently around 1,500 USD per ton. That is a price decline of more than 70% compared to the same period last year." This is according to Mr. David Wu, sales director at Shandong Haijiang International Trade Co., Ltd.
Many ginger production areas suffered from excessive rainfall and overcast weather in September. Some of the fields flooded. When asked about the impact of these weather conditions on the product quality, Mr. David Wu replied: "This time the impact was limited. The regular harvest of fresh ginger was barely affected at all. Based on current conditions the production volume is relatively large this year and the product quality is quite good too. Still, because of the large production volume, the price will likely remain low this year."
For more information:
Mr. David Wu - Head of sales
Shandong Haijiang International Trade Co., Ltd.
Website: http://www.haijiangfruit.com
Tel.: +86 537 2716878
Mobile: +86 15898785310
Fax: +86 537 2365058
E-mail: sale6@haijiangfruit.com