2022 was difficult for Peruvian ginger, but 2023 is full of opportunities

Published 2023년 1월 16일

Tridge summary

In 2022, Peru's ginger exports remained largely stable in volume but saw a significant drop in value due to a sharp decrease in prices caused by an excess supply in international markets, especially in the first half of the year. This was further exacerbated by the return of Chinese ginger, leading to a 24% decrease in the average price received. Demand remained relatively stable, with the exception of Europe, which experienced a 30% drop in purchases between April and June. However, the second half of the year marked a progress in the export of Brazilian ginger to markets like France and the United States, contributing to a 20% growth in shipments in 2022 and inspiring new investments in planting and production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Peru usually exports ginger throughout the year in a homogeneous way. The most sent presentation is the fresh version, which in 2022 represented 92% of exports. In the year, remittances in all their presentations totaled 58,219 tons for a value of US$ 71 million. Said result meant practically the same volume as the previous year (+1%), but with a drop of more than 23% in the exported value. Basically, this was explained by a sharp fall in the price received (-24%), with an average price for the year of US$ 1.22 per kilogram. The result responds to a year marked by excess supply in the main international markets, especially during the first half of 2022, a period in which Chinese ginger made a massive comeback after almost two years of "lockdown" due to the pandemic. Its return —it was used to reduce inventories— caused the almost immediate collapse in prices (-28%) in key markets such as Europe and North America. Regarding demand, it remained relatively stable throughout the year, ...

Source: AgroNegociosPerú