Wholesale Prices of Brazilian Ginger Surge 320.75% YoY Due to Increased Global Demand

The wholesale price of whole ginger in the Brazilian market has surged by 320.75% YoY, reaching USD 1.32/kg in Nov-23 from USD 0.31/kg in Nov-22. This substantial increase is due to the conclusion of the season and a decline in production. Prices started rising gradually from USD 0.68/kg in May-23. Factors such as reduced Chinese ginger production, heightened global demand leading to increased prices, and domestic demand ahead of June/July festivities have contributed to this upward trend.