Ginger Prices Continuously Falling Currently

Article by: Hari Yellina

Ginger has been on sale for more than a year at a low price. Although there are no clear ups and downs at this time, the market’s development has always been negative. The market in Anqiu, as the main supply base for the foreign ginger market, is also unsatisfactory in terms of export. Despite the fact that there hasn’t been much supply on the market recently, the price of ginger hasn’t risen due to limited demand, and it remains at a low level. The export volume and average price both decreased from January to April of this year. Some farmers in the production area have been digging potatoes recently.

There is no scarcity of goods, despite the limited distribution. The wait-and-see attitude prevails among merchants, as does the lack of activity in the procurement of goods, and the lack of supply has failed to drive prices up. The leftover inventory is currently higher than in past years during the same time period. The daily supply of items in the market, according to residents in the producing area, is plentiful, but the availability of high-quality goods is limited. Because the temperature is rising, some farmers have begun to sell supplies from their storehouse, which has created a market supplement.

As a result, overall inventory is excessive at this point, and consumption pressure in the future is still too high. According to the Ministry of Rural Affairs and Agriculture of the People’s Republic of China’s monitoring, the total volume of ginger exported in the national wholesale market was 225,925.83 tonnes in the 23rd week of 2022, a little rise from the 22nd week. The main reason is that the Shanghai area’s control has been gradually lifted, and the catering industry has been operating properly, resulting in an increase in the volume of items supplied, though the increase has been minor.

The market interaction in the ginger sales area has essentially remained steady at this time. Overall, the market continues to be oversupplied. Buyers in the domestic market and processing industries are unlikely to boost their purchases due to the relatively gradual recovery of demand. The market is predicted to remain in its current position in the foreseeable term, with the price more likely to remain stable.