Ginger price today in Nghe An Vietnam increased sharply due to scarcity of supply
Nghe An is a province of Vietnam with a large supply of ginger, many farmer households here whose main occupation is growing ginger and selling it to small traders. Although the current price of ginger in Nghe An is 30,000 VND/kg, farmers have no more ginger to sell.
1. Ginger prices are erratic
Although the price of ginger is unstable, Nghe An people still persevere in increasing ginger production, persevering with the profession of their ancestors since ancient times.
There are farmers who have been involved in growing ginger for more than 10 years. They shared: In the past 2 ginger crops, the price of ginger has fluctuated up and down, sometimes it was as high as 25,000 VND/kg, sometimes it was down to 7,000 VND/kg. At the beginning of the year, it was 18,000/kg but in the middle of the year it dropped to only 5,000/kg. This season, ginger reached 30,000/kg and then there was no more ginger to sell.
In Nghe An, people start harvesting ginger from February, June is the main crop. At the beginning of the year, the price of ginger increased to 18,000 VND/kg, and people harvested all of it to sell. So up to now, the price of ginger has increased to 30,000/kg and is not available for sale.
The price of ginger is so unstable. However, people still persevere in staying there because the profession is linked to life, passed down from their ancestors, so they still try to make up for the previous year’s profit from the next year. There are uncertain years and I don’t know if I will make a profit or not.
At the beginning of this year, ginger prices increased due to increased consumer demand, so purchasing prices also increased more than previous seasons. However, buyers do not dare to import much ginger because they still depend on the situation of export, import and the Chinese ginger market. On the other hand, Nghe An ginger also has to compete with Lao ginger, so buyers only buy enough quantity pre-ordered by customers and factories.
2. The reason for the high price of Nghe An ginger
Chairman of the People’s Committee of Na Ngoi commune said that the whole commune has 320 hectares of ginger growing, ginger is the main income crop for people. People started harvesting ginger from February. In June, the price of ginger increased to 18,000 VND/kg. People saw the price so they harvested all of it and sold it to traders. But by early August, the price of ginger increased to 30,000 VND/kg, so people had no more ginger to sell.
In previous years, there were times when Ky Son and Nghe An ginger could not be consumed and needed to be rescued. This year, the supply was scarce and all ginger was sold. Today’s ginger price is the highest in the past 3 years.
Another reason is that this year the ginger export market is vibrant and other places have not yet harvested it, demand is large and supply is small.
The information Vipsen gave above is only the price of ginger in Nghe An. The general price of ginger also fluctuates. Vipsen has a large raw material area, so it ensures good quality and good price for customers. The high price of ginger also partly affected the export price of ginger.
Hopefully the information that Vipsen has compiled above has brought you a lot of useful information. To order fresh ginger in bulk, contact now:
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