THE INCREASE IN VIETNAMESE WASHED FRESH GINGER IN THE FIRST TWO QUATERS 2023

Thứ tư, 15/11/2023 - 09:54 AM

Not only does fresh ginger have nutritional value, but it also contributes to the overall economic value and, in particular, to the export industry of Vietnam. In the first two quarters of 2023, with export growth, the price of fresh ginger has rapidly increased, bringing excitement to farmers for their harvest.

The role of fresh ginger in Vietnamese exports

Ginger, a well-known spice and herb, is favored for its unique taste, fragrance, and diverse applications in both cooking and medicine. In Vietnam, fresh ginger holds great significance as it plays a crucial role in the country's exports, bringing economic and social benefits.

Vietnam stands out as a major player in the global market for fresh ginger, with its products successfully reaching various international destinations. The export of fresh ginger not only contributes significantly to the country's foreign exchange earnings but also enhances the economic well-being of farmers and individuals involved in the ginger supply chain.

To maintain a strong presence in global markets, it is crucial to uphold high-quality standards for Vietnamese ginger. The industry faces competition from other exporting countries such as China and India, which keeps it dynamic and fosters continuous improvement. Despite occasional challenges, the export of fresh ginger remains an essential aspect of Vietnam's agricultural trade, driving economic growth and supporting livelihoods in rural communities.

In summary, fresh ginger is more than just an agricultural product; it is a key driver of economic growth and rural development in Vietnam. It exemplifies the intricate relationship between trade, agriculture, and the livelihoods of the Vietnamese people, making it a vital component of the country's export portfolio.

Vietnam's fresh ginger export market is extremely diverse

Vietnam plays a crucial role in the global ginger export market, supplying fresh ginger to various countries worldwide. The country's economy greatly benefits from this aromatic spice's export. Among the notable destinations for Vietnamese fresh ginger is Bangladesh, which not only has geographical proximity but also a significant demand for this herb in both culinary and medicinal applications.

Another important market for Vietnamese fresh ginger is the United States, where its high quality is highly valued. It is widely used in diverse cuisines, beverages, and processed products across the country. The Middle East, particularly the United Arab Emirates (UAE), is also a major importer of Vietnamese fresh ginger, extensively incorporating it into their Middle Eastern cooking.

In addition to these markets, Asian countries such as Japan, South Korea, and India have emerged as vital destinations for Vietnamese fresh ginger exports, especially in early 2023. This growing demand further contributes to Vietnam's position as a leading exporter in the ginger industry.

Ginger exports increased, farmers actively harvested because the price of fresh ginger increased sharply

Based on research, the majority of ginger farmers in the Tay Son commune rely on the profits from the next year's harvest to compensate for the losses incurred in the previous year. According to local sources, the Ky Son highland ethnic group begins harvesting fresh ginger in February, with the main harvest taking place in June. Unlike last year when fresh ginger was priced at only 0.16 - 0.2 USD/kg, this year the prices have soared right from the start of the season, reaching up to 0.7 - 0.8 USD/kg and currently sitting at 1.3 USD/kg.

Also according to many ginger purchasing establishments, ginger prices have increased sharply recently due to scarce resources, other localities have not yet entered the harvest season, while it is off-season, export demand is large.

"Because the market demand for ginger is high, currently the cooperative still goes to localities to buy and collect ginger for people. However, it is at the end of the season, so people can only harvest a little, and only buy it every day. a few tons... ", Mr. Nguyen Van Luan - Director of Huong Son Agricultural Services & Handicrafts Cooperative (Ky Son district).

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