Introduction
Ginger, one of the world's most sought-after spices, continues to make headlines in 2024. Recent developments include the unveiling of Surasa, a groundbreaking ginger variety developed by India’s ICAR – Indian Institute of Spices Research (IISR), aimed at revolutionizing ginger farming. At the same time, global ginger trade is navigating significant challenges, with declining exports from Peru, price volatility, and shifting market dynamics in Europe, the United States, and Asia.
This article explores the latest innovations in ginger farming, analyses the global trade situation, and highlights how key players like India, Peru, and Myanmar are shaping the ginger market amid new challenges and opportunities.
ICAR’s Surasa: A Game-Changer in Ginger Farming
Revolutionizing Ginger Production
The Indian Institute of Spices Research (IISR) recently introduced Surasa, a new ginger variety designed for vegetable use. Developed through a farmer-participatory breeding program, Surasa stands out for its exceptional productivity and adaptability. With a high yield of up to 24.33 tonnes per hectare, this variety promises consistent production and increased profitability for farmers.
The Development Journey
The origins of Surasa trace back to Kodancherry, Kozhikode, where farmer John Joseph discovered a unique rhizome. Over the course of six years, ICAR conducted trials across diverse regions, including Kerala, Nagaland, and Odisha, ensuring the variety’s ability to thrive in different agro-climatic conditions.
The Kerala State Varietal Release Committee’s recent approval of Surasa marks a significant milestone. This paves the way for widespread adoption, offering farmers a reliable and profitable solution for ginger cultivation.
Peru's Ginger Market: Challenges and Price Volatility
Decline in Exports
Peru, a leading global supplier of ginger, is facing substantial challenges in 2024. In November 2024, the country exported 6,348 tons of ginger worth $11.9 million, marking a 14% drop in volume and a 27% decline in value compared to November 2023.
Factors Behind the Decline
October 2024 Figures
Peru’s ginger struggles were also evident in October 2024, with exports totaling 5,408 tons worth $10.56 million. The average price per kilogram dropped by 11% to $1.96, reflecting competition and reduced demand. The United States and the Netherlands remained top markets, accounting for 48% and 30% of exports, respectively.
Myanmar’s Agricultural Export Success
While Peru struggles, Myanmar’s agricultural exports are thriving. Between April and October 2024, Myanmar reported revenues exceeding $2.75 billion from agricultural exports, with ginger included as part of its diverse portfolio.
Export Channels and Destinations
By balancing traditional crops like rice and corn with specialty exports such as ginger, Myanmar is positioning itself as a key player in the Asian agricultural export market.
The European Union’s Demand for Spices
Ginger: The EU’s Most Imported Spice
In 2023, the European Union imported 114,000 tonnes of ginger, making it the most imported spice. This figure reflects Europe’s growing demand for ginger’s medicinal and culinary properties.
The EU’s rising interest in turmeric and ginger aligns with increasing consumer demand for natural, health-promoting ingredients.
Peruvian Ginger Exporters Face Competition and Price Wars
Peruvian ginger, celebrated for its high gingerol content and medicinal benefits, remains a favorite in markets like Europe and the United States. However, exporters face significant hurdles:
Strategic Adaptations
To counter these challenges, exporters like Jalhuca Amazonia are investing in their own production fields and diversifying into new crops such as Hass avocado and pitahaya. They are also targeting emerging markets like Canada and the United Kingdom to reduce dependency on traditional markets.
The Future of the Ginger Market
Innovation and Sustainability
Market Diversification
Countries like Myanmar and Peru must diversify export markets to reduce reliance on traditional buyers. New markets in Asia, the Middle East, and North America hold promising opportunities.
Quality Assurance
To compete globally, exporters must prioritize quality control, particularly in markets like Europe, where concerns about product consistency can impact demand.
FAQs: Key Insights About the Ginger Market
1. What is Surasa ginger, and why is it important?
Surasa is a high-yielding ginger variety developed by ICAR, offering up to 24.33 tonnes per hectare. It promises consistent production and profitability for farmers.
2. Why are Peruvian ginger exports declining?
Peruvian exports are declining due to climatic challenges, price volatility, and concerns about product quality in European markets.
3. Which countries import the most ginger?
The European Union imports the most ginger globally, with China being the primary supplier.
4. How has Myanmar succeeded in agricultural exports?
Myanmar’s success stems from its balanced export portfolio and strong maritime trade routes, contributing over $2.75 billion in revenue.
5. What role does ginger play in global trade?
Ginger is a key agricultural commodity valued for its culinary uses and health benefits, making it a top export in regions like Asia, Europe, and North America.
6. What are the challenges facing the global ginger market?
Challenges include climatic changes, price wars, logistical issues, and fluctuating market demands.
Conclusion
The ginger market in 2024 reflects a dynamic landscape of innovation, challenges, and opportunities. ICAR’s Surasa variety offers hope for farmers, while countries like Peru and Myanmar navigate global trade complexities. With rising demand for ginger in Europe, Asia, and North America, quality assurance, innovation, and market diversification will define the future of the ginger industry.
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