Commodities:  Oil & Oilseeds Feed & Meal Grains Pulses Spices Sugar & Gur Fibre Plantation Others
You Are Here: Home > Commodities > More News
Articles
More Articles...

Overseas demand for Chinese ginger is limited because the export price is too high

22 July 2021

There is 15% more ginger in reserve than around this time last year

The price of ginger was rather high at the end of last season, which is why the price of ginger started out higher than usual at the beginning of this season. At the same time, with the outbreak of the Covid-19 pandemic, there are many difficulties with distribution, including a shortage of shipping containers, which pushes the price up. That is why overseas importers are careful when they order Chinese ginger.This year the export volume of Chinese ginger is significantly smaller than in the same period last year. In the first five months of this year, the export volume of Chinese ginger was 30% smaller than in the first five months of last year. Even though overseas markets are dealing with the pandemic, and the number of orders is growing, the increase in orders is still very small. This is only a tiny improvement to an otherwise difficult season."There is a lot of pressure on ginger export at the moment. The supply volume is too large. Chinese ginger production areas enjoyed an abundant harvest this year, so the production volume is larger than last year. Furthermore, the volume in reserve is currently 15% larger than around the same time last year. Furthermore, overseas demand is weak. In other words, supply exceeds demand, and that is why ginger export is under a lot of pressure." This is according to Mr. Cao Shuming of Shandong Anqiu Yiming Fresh Ginger Processing Factory.China is one of the largest producers and exporters of ginger. Most of the export ginger comes from production areas in Shandong. According to Mr. Cao: "The export volume in May 2021 declined by circa 45% in comparison with May in 2020. This shows how serious the contraction of ginger export is this year. As for the price, the export price is likely to remain high for the foreseeable future. And this will undoubtedly have an impact on the next harvest of ginger."Ginger is not a necessity and can be easily replaced by other agricultural products. When the price is too high, overseas consumers simply consume less ginger. In addition, the summer months are slow months for the ginger industry. That is why Chinese ginger export significantly declined.

Source: https://www.freshplaza.com/article/9341395/overseas-demand-for-chinese-ginger-is-limited-because-the-export-price-is-too-high/

Technical Research
Prices
ExchangeCommodityContractOpenHighLowClose
More Futures prices..