The Mintec price of Chinese pumpkin seed delivered to the UK has climbed 3% m-o-m since the virus outbreak and could increase even further. China is a major supplier of pumpkins seed to the global market, and following the restriction to factory production in China, some European traders have recently expressed concerns over supply shortages, leading to price increases. Issues with transport logistics could further hinder pumpkin seed exports due to a lack of transportation capacities between factories and ports and congestions in export harbours.
In the spice market, dried ginger could also experience disruptions to shipments with prices for this product most likely to increase. The Mintec price of dried ginger delivered to the US has advanced by 26% q-o-q, following a smaller crop in China last year. As of mid-January, the price reached $4.37 per kilo, registering an increase of 2% w-o-w and 2% m-o-m. In comparison, during the SARS outbreak back in 2003, prices for both the dried garlic and the dried ginger stayed relatively flat.
Other spices potentially to be impacted by disruptions to production and distribution include paprika, star anise and chilli. However, as of February 5th, the Mintec price of Chinese star anise sold in the US market was unchanged w-o-w or m-o-m.