The price of Chinese ginger temporarily rose as a result of weather conditions in production areas and speculation in the market. Shandong Zhuoyi Import and Export Co., Ltd. is an export company specialized in ginger from Shandong. Company spokesperson Mr. Wang recently talked about current conditions in the ginger market.
"The factory price of Chinese ginger is currently around 997-1,050 USD per ton, which is a lot more than the price of 370-450 USD per ton last month," said manager Wang. "There are several reasons for the price increase. First, there was heavy rainfall in Qingdao and Anqiu, which caused some of the ginger to swell up. The product quality of the new ginger harvest is not stable. In addition, traders speculate in the market. Some traders with storage space think that the price of ginger will rise later in the season, so they are buying ginger in large volumes. That is another reason for the price rise."
The new harvest will take place in November. And the next ginger export season will commence in late December. "The high domestic price of ginger also raises the export price of ginger, and it remains to be see whether the international market is wiling to pay the price," said manager Wang. "Recent market conditions have not been ideal for export. The rising price weakens the competitive position of Chinese ginger in the international ginger market. Our overseas order volume is smaller than around this time last year."
"The shipping fees are now relatively stable. The cost of shipping to Europe is around 8,200 USD per container. That is 100 USD per container less than last month. The shipping fees in general show a downward trend, but they still remain higher than usual. In addition to expensive shipping fees, ports also struggle with a backlog of work, and labor shortages. These problems have a significant impact on global product movement."
In addition to ginger, Shandong Zhuoyi Import and Export also export garlic, onions, apples, pears, and Chinese chestnuts.
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Shandong Zhuoyi Import and Export Co., Ltd.