Despite the temperature being higher than usual, the arrival and availability of dry ginger in the domestic markets remain weaker than expected. Ginger’s gradual uptrend is supporting the market sentiment.
Weak arrivals, sluggish sales
The temperature remained above average in prominent dry ginger-producing states like Kerala, Karnataka, and Assam, including the capital Delhi. Even after this, the arrival of ginger and dry ginger from these states remains comparatively weak. Sales of dry ginger remained sluggish with stockists due to lower-than-usual arrivals, availability, and consumption season.
The price of ginger is gradually increasing in the local wholesale fruit-vegetable market in Azadpur. Ginger is arriving here only from Bangalore. Ginger arrivals from Bangalore have come down recently. Furthermore, the prices have increased 12.64% from the last month, and the prices in export markets, too, have risen 7% since last month due to market optimism.
Prices jumped
On the other hand, due to stockists’ increased buying, dry ginger has recently jumped and is currently stable. Due to the buying trend of millers towards Aurangabad’s dry ginger, there is an atmosphere of lethargy in other states’ dry ginger.
Going forward, Indian dry ginger prices are expected to remain positive in the short term due to positive sentiment following government interventions in agricultural reforms, consolidation of supply chains, and improved domestic demand on account of the festive seasons’ nearing. However, prices will likely remain volatile in the medium to long term due to the weak rupee against USD and fluctuations in global markets amid US-China trade war developments.
The Ginger dried NUGC prices were Recorded at $2,60 per kg FOB.
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