Increases in shipping costs, and the appreciation of the Chinese yuan, both affected the export environment of many Chinese agricultural products. The price of Chinese ginger has reduced in the last few weeks. The Sales manager at Jining Shangzhuo Food Co., Ltd., recently talked about current conditions in the ginger export market.
“The price of Chinese ginger has shown a downward trend in the last two weeks. The current FOB price of ginger shipped from Qingdao to Rotterdam is around 1,260 USD per ton. Although the price is coming down, importers are still not actively placing orders. Apart from some demand in the Middle East, there is very little response from Europe and North America,” said manager Wang.
The main reason for this situation is the rising shipping cost. Shipping containers can often be as much as 10-15 days late, and there is a shortage of labor.