Ginger has a typical flavour and taste; therefore, real substitution is not possible. The only substitution that one can think of is the use of fresh ginger instead dried ginger. Fresh ginger is used for cooking, at home or in restaurants, and also in food and beverage manufacturing.Exporters from new and/or unknown ginger supplying countries should certainly look at the European market, like the Peruvian spices exporters did few years ago.
Within 5 years, Peruvian exporters have developed their ginger exports to Europe impressively. They are particularly successful with organic and also fairtrade certified produce because their volumes are good and the promotion is attractive. The quality of the Peruvian export product is very good and apparently more than compensates the high price level.
Dry and fresh ginger are quite similar in action except that the dry one is preferred to fresh on during summers, as per Ayurveda. Ginger is useful in indigestion, asthma, nausea and more Ginger is an annual crop. Its prices fluctuate from harvesting season to harvesting season. The price of dried ginger also depends on the price of fresh ginger. Also, there are different prices for the different product varieties and origins. For example, in July 2019, the price for dried Indian ginger whole was about USD 4,000 per tonne, while Chinese ginger sliced was about USD 3,000 per tonne and Nigerian ginger split was sold at about USD 2,000 per tonne FOB (Free on Board). Another (Nigerian) source mentions that average prices for exported dried ginger from Nigeria are between USD 2,250 and 2,600 per metric ton in July 2019.
Overall, prices in the summer of 2020 were higher than in the previous year. For example, Chinese sliced ginger reported US$4,450 per tonne FOB and in Nigeria US$2,900 per tonne. In Nigeria, exporters are reluctant to offer any forward contracts because of uncertain shipment schedules. Global market prices for ginger are strongly influenced by China, the largest producer of both fresh and dried ginger. While Chinese ginger is on average the cheapest ginger available on the global market, traders often prefer ginger from more expensive and higher quality suppliers, for example, from Peru and Brazil. They also buy from these countries because of quality differentiation and risk mitigation.