Peru's ginger supply decreases due to 60% less planting

Whole Ginger

Vegetables

Peru

Market & Price Trends

Published Mar 21, 2024

Tridge summary

Peru's ginger supply is currently limited due to a 60% decrease in planting in 2022, caused by farmers losing capital from low prices in 2020 and 2021. Despite strong demand from Europe, the US, and Canada, competition from cheaper Chinese ginger remains a challenge. However, Peru's focus on organic and certified ginger provides a unique selling point. With the new 2024 ginger campaign starting in April, it is anticipated that Peru will see a minimum 5% growth in volume and FOB value of exports, driven by improved prices in 2023 and low barriers to re-enter cultivation.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

(Agraria.pe) Ginger supply in Peru remains limited despite good demand in its key markets of Europe, the United States and Canada. Leandro Manuel Llacctarimay Figueroa, head of sales and operations at Agroexportaciones Llacta, indicates that "supply in Peru is limited at this time because planting in 2022 was 60% lower compared to 2021, after farmers lost their capital. work due to the low prices that occurred in 2020 and 2021. Llacctarimay says that since the Covid-19 pandemic in 2020, ginger prices were very good, prompting many people in Peru to enter the sector. "The population that works in other sectors such as hotels, liquor stores, construction, coffee growers, pineapple growers, cassava and others, invested in planting ginger thinking that it would cost the same as during the pandemic. However, it was quite the opposite, since others producing countries planted more ginger, such as Ecuador, Costa Rica, Honduras, Brazil and China." He explains that other existing producers ...

Source: Agraria