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Measures taken to boost ginger prices

2012/03/24 21:13:23

Taipei, March 24 (CNA) Agriculture authorities have launched measures to increase the price of ginger after noting the prices have dropped due to an increase in production, the Agriculture and Food Agency said Saturday in a statement.

The measures include activating a government procurement mechanism aimed at preventing a price slump during the harvest season, along with reinforcing efforts to market the crop in domestic and foreign markets, according to the statement.

The statement said prices have recently plummeted because of a glut in the counties that produce the crop, including Nantou, Taitung and Chiayi.

The price fell to an average of NT$18 (US$0.6) per kg in wholesale markets around Taiwan Saturday from NT$21.5 per kg recorded on the same day of the previous month and NT$35.4 per kg registered on the same day of the previous year, according to government statistics.

Officials at the agriculture agency attributed the price drop to the production increase, which was caused by farmers keen to take advantage of last year's good prices.

The area of land used for ginger cultivation around the country increased by 4.8 percent last year, the officials said, estimating that due to the increased growing area, the production volume is expected to grow by 4.6 percent this year.

(By Lin Heng-li and Elizabeth Hsu)