In the realm of ginger, a symphony of price dynamics has unfolded, with recent fluctuations reminiscent of a rollercoaster ride. Following a dip due to profit booking, the market now witnesses the phoenix of an uptrend, a beacon of hope for traders and consumers alike. Even as new ginger graces the scene from Bangalore, its presence remains a mere whisper compared to demand, thereby paving the way for a continued ascent in the days to come.
Monsoon’s fervour
After a hiatus, the monsoon’s fervour has rekindled in Delhi and neighboring states, resurrecting the pulse of nature’s bounty. While some regions like Kerala and Karnataka languished with a 40% rainfall deficit in June, the tides have turned, with July ushering in relief and reducing the rainfall deficiency to 20-25%. Amidst this meteorological ballet, fresh ginger from Bangalore has graced the wholesale markets of Delhi, bearing a recent price descent.
Across the country, monsoon’s embrace has enveloped various states, orchestrating a harmonious rhythm that resonates with the agricultural heartbeat. Ginger farmers have found allure in the attractive price, prompting the sale of nearly 90-95% of their ginger harvest. Konni market in Kerala, known for its ginger trade, has not borne the weight of pressure, displaying a tale of steady demand and strategic selling. This narrative of high sale percentages has played a significant role in Ginger’s upward momentum. Yet, the ginger mills responsible for crafting dry ginger remain dormant, victims of supply scarcity.
The lack of ginger arrivals from producing states and a spike in temperature have conspired against ginger mills, leading to sluggish sales to stockists. Conversely, Aurangabad’s saunth (dry ginger) garners the attention of millers, as it presents a viable alternative, driving prices in the region. A similar story unfolds in Kochi, where saunth’s price swells.
Amidst this intricate play of supply and demand, one theme shines brightly – ginger’s allure. As the nation witnesses an attractive ginger price, farmers, in a curious twist, exhibit a reduced enthusiasm for ginger production, a trend observed over the past few years. Nonetheless, as the clouds clear and the horizon beckons, a resurgence of bullish fervour seems poised to grace the ginger market once more.