The raisin market is facing turbulent times, marked by lackluster local and invoice demand. Producers are compelled to trim their stocks due to this downturn. While the upcoming raisin crop in Sangli Tasgaon, Maharashtra, promises exceptional quality, prevailing market dynamics paint a challenging picture for the industry.
Old Stock Woes and Wedding Wait
Despite optimistic expectations for heightened consumption post-Diwali during weddings, the raisin market finds itself grappling with setbacks. Overstocking across producer, distributor, and consumer domains, coupled with lackluster Diwali sales, has left traders in a holding pattern, anticipating improved business during weddings—an expectation yet to materialize. The surge in selling from Sangli Tasgaon has flooded the market with an excess of light-quality raisins. Consequently, prices have taken a nosedive in regions such as Bihar, Bengal, Orissa, and West Bengal. Meanwhile, medium-quality raisins are amassing in Uttar Pradesh, posing a challenge for traders attempting to offload their abundant stocks.
Anticipating the New Crop and Price Projections
The imminent arrival of the new raisin crop from Tasgaon-Sangli is anticipated by the end of January, with a subsequent entry into Delhi NCR markets by mid-February. While current market dynamics warrant selling goods at existing prices, the foreseen reduction in weddings and subdued business in the forthcoming months may exert additional downward pressure on raisin prices. Traders in the National Capital Region are contending with unfavorable demand dynamics. Prices for Indian Raisin Green span from $1,20 to $3,36 or €1,11 to €3,11 per kg, contingent on quality. Concurrently, the yellow raisin trade is witnessing a decline, adding uncertainties to the short-term market outlook.
Choppy Waters and Uncertain Horizons
In the volatile raisin market, navigating the currents proves challenging, with an uncertain horizon ahead. Experts opine that producers are advised to tread cautiously, considering regional variations, the impending new crop, and reduced wedding season repercussions. The prevailing scenario calls for a reasonable approach, vigilant monitoring of market dynamics, and a readiness to adapt to the evolving conditions.
The currents are challenging in the volatile raisin market, and the outlook remains uncertain. The current scenario suggests a cautious approach, a keen eye on market dynamics, and a readiness to adapt to changing conditions.