Ginger prices in Moscow (Russia) collapsed – importers incur losses


Ginger prices in Moscow (Russia) collapsed – importers incur losses

04/24/2020

Buy ginger in bulk in Moscow today can be an average of 140-160 rubles / kg ($ 1.88-2.14 per kg)

EastFruit analysts note that ginger prices in the Russian capital have fallen to record low levels. At present, wholesale shipments of ginger are actively being sold, however, despite the daily decline in prices, demand remains restrained.

To wholesale ginger in Moscow today, an average of 140-160 rubles / kg ($ 1.88-2.14 per kg) is available. At the same time, small wholesale lots of products are sold at 10-15% more expensive. You can find ginger suppliers on the EF Trade Platform, which operates on the basis of Telegram.

Against the background of lower prices for ginger in Moscow and in other regions, the demand and supply of ginger evened out, which allowed wholesalers, in some cases, even to increase the selling price of their products. At the same time, many note that the sale of ginger now brings them loss, because export prices for this product in China, from where Russians primarily import ginger, have risen substantially.

China is the world’s largest exporter of ginger. According to EastFruit analysts, this country accounts for 67% of global ginger exports. Every year, China exports more than half a million tons of fresh ginger and earns more than half a billion US dollars. That is, the average export price for Chinese ginger is usually close to $ 1 per kg. However, in 2020, according to representatives of the produce trade, the price rose sharply.

See also: The absolute record for the price of ginger recorded in the Crimea!

Among the major exporters of ginger are also Thailand, India, Peru and Brazil, however, the volume of exports from these countries is much lower. But the largest importer of ginger in the world is Pakistan, which annually buys about 100 thousand tons of this product. Further in the ranking of the world’s largest importers are Bangladesh, the USA, Japan, Malaysia, the UAE, Vietnam, Saudi Arabia and the United Kingdom.

Until last year, Russia was at the end of the twenty largest importers of ginger, however, in 2020 it may significantly increase in the rating, given the booming demand for it in February-March 2020. Ukraine in the ranking of the largest importers of ginger is only in 37th place – even lower than Belarus, which is in 30th place.

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