Ginger Market Resilience
Despite the recent drop in temperature, ginger prices have remained stable. However, its latest market price is also much higher than normal. This is the reason why the general structure here remained firmly at the previous level.
Traditionally, the demand for ginger surges during the cold season; however, the influx of new ginger from Bangalore to Delhi’s wholesale fruit and vegetable market has somewhat softened prices, with the current rate hovering between $1,08-$1,14 per kg, down by $0,06 from its previous high.In contrast, dry ginger prices in Kochi recently experienced a decline of $18-$24 over a few days, settling at around $4,20-$4,32 per kg. Reports indicate that in the Sagar Line, dry ginger was priced at approximately $3,96-$4,08 per kg.
Market Trends and Outlook
This development followed a period where ginger prices had spiked considerably, reaching an unprecedented high of $2,40-$2,70 per kg, prompting many farmers to offload their ginger crops.
The abundance of arrivals, coupled with somewhat weaker demand, has led to a situation where ginger is not as readily available for making concoctions as expected. As a result, ginger and dry ginger arrivals from the primary producing states have remained relatively subdued. The key driver behind the surge in ginger prices is the attractiveness of the rates offered, which led to nearly 90-95 percent of ginger being sold. Meanwhile, Santh ginger saw negligible arrivals in Kochi, causing a price hike of $0.18 and currently resting at $4.20-$4.50 per kg.
The dry ginger market is expected to maintain its resilience in the foreseeable future, given the unique market conditions and consistent demand.