Ginger: growers in Peru hope for price increases
November 20, 2024 at 4:34 PM ,
Der AUDITOR
Smaller acreage
Demand for ginger has risen worldwide in recent years, which has also pushed up prices. Domestic consumption is also increasing in Peru, an important producer country; FreshPlaza spoke to market expert Leandro Manuel Llacctarimay Figueroa, Sales and Operations Manager of the Peruvian ginger grower and exporter Agroexportaciones Llacta. He reports that there have been noticeable price increases in the last four weeks. It is currently the growing season for the new crop in Peru and prices, especially for organic produce, are high. According to Figueroa, this is due to the fact that less ginger was grown last year than in the previous three years. Farmers were afraid to plant too much because they had anticipated a possible price collapse like in the 2021/22 season. Prices were good last year, but uncertainty still prevails, which is why many growers decided to switch to other agricultural products such as coffee, cocoa and pineapple.
Jumbo varieties are in demand
Farmers who have decided to grow ginger are currently employing a special tactic. The rise in world market prices has prompted them to interrupt their harvesting process in order to wait for higher prices in the coming weeks. This is further stabilising prices, as is the increase in domestic consumption in Peru. According to Figueroa, the Jumbo variety is particularly in demand on the wholesale market in Lima, which supplies the whole of Peru; this is more expensive than the Criollo variety, which is mainly exported. The price difference is around USD 0.40/kg. Peruvian ginger is sold worldwide, both conventional and organic goods. The largest buyers are the USA and the Netherlands, but Chile, Colombia, the UK, Canada and Argentina are also important target markets.
China is the EU's most important supplier
EU ginger imports declined by a good 6% year-on-year in the period from 1 January to 18 November. The most important supplier this year is China, which shipped 2,877 mt of ginger to EU countries, displacing Nigeria from first place. The African country shipped more than 45% less ginger to the EU than in the same period last year, and Vietnam also suffered heavy losses. In contrast, China (+47.8%) and India (+51%) were able to significantly increase their exports to the EU. The largest buyers in the EU are the Netherlands, Germany and Belgium.
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EU ginger imports, in mt |
|||
|
Supplier |
2023 |
2024 |
Diff. |
|
China |
1,947 |
2,877 |
47.8% |
|
Nigeria |
2,586 |
1,418 |
-45.2% |
|
India |
614 |
927 |
51.0% |
|
Vietnam |
510 |
367 |
-28.0% |
|
Côte d'Ivoire |
274 |
265 |
-3.3% |
|
Others |
1,108 |
743 |
-32.9% |
|
Total |
7,039 |
6,597 |
-6.3% |
|
DG AGRI TAXUD Customs Surveillance System, 01/01-18/11 09101200 Ginger, crushed or ground |
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