World ginger and garlic skyrocketed during the epidemic season

Published 2021년 6월 21일

Tridge summary

Chinese garlic and ginger prices are experiencing significant increases due to high demand both domestically and internationally. Chinese garlic prices have risen from 930 USD/ton to 830 USD/ton since September 2020, with expectations to rise again. Export prices to Europe have increased by about 40% compared to last year, reaching 1,100 - 1,200 USD/ton. China is the world's largest garlic exporter, accounting for 80% of the global supply.

Meanwhile, ginger prices have surged globally, with ginger from Nigeria selling for 39 USD per 50-kilogram bag, up from 4-6 USD two years ago. Chinese ginger export prices to Europe have increased by about 30% compared to last year, due to increased transportation costs and input material prices. However, the volume of Chinese ginger exports to the European market has decreased due to increased freight rates, lack of containers, and limited supply.

Vietnam's garlic and ginger prices have remained mostly stable in Ho Chi Minh City's market, with a slight increase in retail prices for ginger. However, the consumption of garlic has slowed due to the recurrence of the Covid-19 epidemic, leading to sluggish and closed restaurants and eateries.

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

Original content

According to Reuters, the price of Chinese garlic has increased for many months now. Since September 2020, the price of garlic has fluctuated at approximately 6,000 yuan / ton (equivalent to 930 USD) and then decreased and then started to rise again. By early June 2021, the Chinese garlic price was at 5,300 yuan/ton, equivalent to 830 USD/ton and is forecast to continue to increase further, possibly back to 6,000 yuan/ton or higher. in this summer. That's not to mention strong buying demand for raw garlic used for processing or sliced, which can push prices up to 7,000 yuan ($1,100) per ton. Particularly, the price of Chinese garlic exported to Europe (FOB price) is currently at 1,100 - 1,200 USD/ton, up about 40% over the same period last year. China is the most important country in the international garlic supply chain, accounting for 80% of global garlic exports. In 2020, the country exported 2.18 million tons of fresh garlic bulbs, an increase of 30% compared to 2019. China's ...

Source: Vietstock