Even with the price rise, dry ginger sales declined. As a result, the price of dry ginger remained constant at $ 2.11 per kg. Winter’s arrival could have an impact on market sentiment. Dry ginger might continue to be firm in the spot for the next one to two days.
Massive quantities of the bumper crop
India planted less ginger this year as a result of the massive quantities of the bumper crop from the previous year. However, Maharashtra and other emerging growth regions will continue to have strong crop yields.
China’s crop is also petite this year, and supply into the market is short as prices for fresh ginger are high, and according to the sources, the prices are expected to stay firm during this harvesting season. Further, buyers are turning to Nigeria for imports, which is now the most competitive origin.
Decrease in sowing
Due to India’s bountiful crop the previous year, there was an excess of ginger stocks, which led to a decrease in sowing for the current year. The forthcoming ginger harvest is anticipated to be small as a result. Picking the market trends for the ’23 harvest season, which is scheduled to start in January, will require careful consideration over the following weeks.
The Ginger dried NUGC prices were recorded at $2,08 per kg FOB.