Despite it is ginger season, prices of raw material remain high translating into firm ginger oil prices. No relief in sight at the moment.
Maria-Paz Gonzalez PhD
VP PRODUCT MANAGEMENT & SOURCING
Jul 1st, 2018
Prices have softened slightly as there are roots in the market. It would also appear that several more processors have finished their conversion to natural gas from coal and are in need of cash, so selling oil at/or near cost.
Oct 1st, 2017
Reports still confirm production is limited due to the strict environmental regulations being enforced, especially on many of the smaller producers. Prices have firmed.
Sep 1st, 2017
When the government forced processors to switch to gas fired burners from coal, production reportedly switched to a different province. This caused prices to soften, albeit for a very short time. It did not take long before the government forced the change to take effect in that province also. With lack of dried roots available prices are firm.
Dec 1st, 2016
The situation with Ginger remains the same. The conversion of boilers is still ongoing and going slowly. Stocks of oil are limited and less was produced in early November than was hoped for. Prices are firming.
Apr 1st, 2016
A recent spice market report indicates that Nigeria’s crop was below normal and is mostly sold out. This has increased demand for dried out of China and India. It appears that pricing for Chinese Oil has bottomed.
Dec 30th, 2015
The spice industry reports that the upcoming Chinese Ginger harvest in December and January will be quite large. Cited is the pressure to sell stocks of fresh. Since demand for fresh in China consumes the largest percentage of total production, this would support that belief. Prices are expected to soften.