The price of Philippine ginger has exceeded 40 yuan/kg

Published 2024년 10월 22일

Tridge summary

The retail price of local ginger in the Philippines has risen sharply, reaching 220-350 pesos per kilogram in the Greater Manila area due to increased industrial demand and adverse weather conditions such as El Nino and typhoons impacting production. With a self-sufficiency rate of 86% and production at 29,200 tons, the country falls short of the 33,900-ton domestic demand. To stabilize prices, the Philippines is importing ginger mainly from China, while also considering Vietnam and Indonesia to diversify sources. The Bureau of Plant Industry anticipates ginger imports to reach 13,725 tons this year, with further imports planned to meet market needs and lower prices.

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

Original content

According to Philippine media reports, the retail price of local ginger has risen sharply this year. In September, the inflation rate of spices, edible herbs and seeds (including ginger) in the capital area accelerated to 16.5% from 7.8% in the same period last year. The price of ginger in the vegetable market in the Greater Manila area is currently 220-350 pesos/kg (about RMB 27-43/kg), almost 2-3 times the 110 pesos/kg last year. The price of local ginger is high when it exceeds 100 pesos/kg, but the current price is even higher than that of a whole chicken. Farmers' group SINAG recently asked the Ministry of Agriculture to inspect cold storage facilities across the country to find out if anyone is maliciously hoarding ginger. The increase in market demand is mainly attributed to the surge in industrial demand, especially the increase in production demand for products such as herbal tea and turmeric tea. In addition, the impact of the El Nino phenomenon and continuous typhoons ...

Source: Guojiguoshu