China: The price of Anqiu ginger doubles 10.25
In October, the fresh ginger in Changyi and Anqiu are ready for harvest, so farmers are quite busy digging them out of the soil. Recently, the prices of yellow ginger and fresh ginger both doubled. Experts in the industry said that this was caused by a sudden change in demand and supply. However, this year the total cultivation area of ginger has increased, so the price is unlikely to be very high.
After the National holiday, buyers started to stock fresh ginger. Due to low prices, farmers are reluctant to sell their ginger early, but now as the volume grows, they are able to sell the ginger at better prices. Currently, the daily sales volume is around 500 tonnes in the market, 20% higher than normal. The current price of ginger is 100% higher than last year.
With less yellow ginger available from the farmers, and the fresh one is still being harvested, the market supply is unstable, which has driven up the prices. Due to the flood this summer, the crops in some areas have decreased, while the total cultivation area remains the same. Thus many growers and agents expect the prices to be higher than last year, but it'll be difficult to see kilo prices as high as 7 or 8 yuan like a few years ago.