Ginger - an overview of the current situation on world markets

Published 2020년 11월 3일

Tridge summary

The global ginger market is experiencing a shortage due to increased demand and heavy rainfall damage to crops, particularly in China. As a result, prices have surged, leading Chinese growers to plant more ginger, despite weather challenges. Meanwhile, Peru's ginger exports have reached record levels, filling the supply gap from China, and the market is expected to remain expensive until the next export season. The high prices and increased demand are causing market pressure, especially in the US. In Europe, ginger supply is limited, driving up prices, and field trials in Sicily are underway to evaluate the potential for ginger cultivation.

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

Original content

Chinese ginger accounts for the largest proportion of the world's cultivation and supply. Due to the coronavirus pandemic, there has been an increase in demand for this product. The heavy rainfall also resulted in the loss of much of the old harvest. Worldwide, this causes a market shortage while demand has increased. Currently, prices are around € 40-45 in Europe and $ 50 in the US for a 12-kilogram box. China has only just begun a new harvest, after which the ginger will have to be stored for 40 days before exporting to Southeast Asia and the Middle East can begin. Export to Europe will not start until early December. Given the high prices currently paid in the market, Chinese growers planted a lot. Consequently, it was to be expected that there would be 20 percent more ginger this season. But the torrential rains spoiled the situation. Many ginger growing regions have been severely affected. For example, Shandong Province's harvest is expected to be 20 percent lower. Unlike ...

Source: SwiatRolnika