“The export price of Chinese ginger has increased by almost 30% compared to last month”
The price of Chinese ginger has temporarily increased due to weather conditions in production areas and market speculation. Shandong Zhuoyi Import and Export Co., Ltd. is an export company specializing in Shandong ginger. The company’s spokesperson, Mr. Wang, recently spoke about the current conditions in the ginger market.
“The factory price of Chinese ginger is currently around 997 to 1,050 USD per ton, which is much higher than the price of 370 to 450 USD per ton last month,” said director Wang. “There are several reasons for the price increase. First, there were heavy rains in Qingdao and Anqiu, which caused some of the ginger to swell. The product quality of the new crop of ginger is not stable. Some traders with storage space believe that the price of ginger will increase later in the season, so they buy ginger in large quantities. This is another reason for the price hike.
The new harvest will take place in November. And the next ginger export season will start at the end of December. “The high domestic price of ginger is also increasing the export price of ginger, and it remains to be seen whether the international market is willing to pay the price,” said director Wang. “Recent market conditions have not been ideal for exporting. Rising prices are weakening the competitive position of Chinese ginger in the international ginger market. Our overseas order volume is lower than last year at the same time.
“Shipping costs are now relatively stable. The cost of transport to Europe is around 8,200 USD per container. This is 100 USD per container less than last month. downward trend, but they are still higher than usual. In addition to high shipping costs, ports are also struggling with a backlog of labor and labor shortages. These problems have a significant impact on the global movement of products.
Besides ginger, Shandong Zhuoyi Import and Export also exports garlic, onions, apples, pears and Chinese chestnuts.
For more information:
Import and Export of Shandong Zhuoyi Co., Ltd.
Email: [email protected]