In the fiscal year 2022-23, the export of dry ginger, a prominent grocery commodity, has been dealt a heavy blow. What is the culprit behind this setback? Skyrocketing prices within the domestic markets. This spice, known for its versatile flavour, has struggled to maintain its footing due to an unexpected cost rise.
Stuck in the Gingerbread House: Unavailability Sparks an Upward Price Spiral
Within wholesale grocery markets, dry ginger’s price has stubbornly clung to unprecedented heights, reaching $4,19-$4,32 and $4,35-$4,47 per kg. These staggering figures have reverberated throughout the industry, causing a dent in the sales of this essential culinary ingredient. And intermittent price hikes have only added to the predicament.
A profound truth lies beneath the surface: dry ginger’s fate is intertwined with the availability of ginger itself. Sadly, this vital raw material has become as elusive as a hidden treasure. Across the nation, the arrival and accessibility of ginger have dwindled to almost nothingness. Farmers, enticed by unexpectedly higher prices, have eagerly sold off 90-95 percent of their ginger crop, leaving only little remnants behind.
In Kochi’s Spicy Cauldron: A Market Burning at Unprecedented Temperatures
Kochi, Kerala, stands witness to an astonishing spectacle. Ginger’s wholesale price has soared to great heights, surpassing all previous records. Reeling from scarcity and limited supplies, this fiery spice has driven the market into a frenzy. Although a slight price dip has been observed, they remain poised at historically unprecedented levels.
A Ginger Future: High Prices on the Horizon
Expectations of relief from high prices fade like a distant mirage as time progresses. Even introducing new ginger offers little solace, as the lingering effects of high prices are anticipated. With farmers cultivating ginger on a grand scale, hopes for a substantial price reduction wane, reflecting a future flavoured with continued challenges.
In this fiery battle, the export of dry ginger emerges bruised and battered, grappling with a challenging landscape shaped by scarcity and skyrocketing costs.
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