Ginger Prices Won’t Be Bearish

Mintec Global
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Many dry ginger-growing states like Kerala, Karnataka, and Assam have witnessed rain and flood situations for the past few days. Due to this, the extraction of dry ginger from these states is likely to be affected. The heavy rains have decreased the rate of drying of the ginger, and it will help the market.

The Southwest Monsoon remained active from South India to Western parts for the last few days. Monsoon also reached the capital Delhi on June 30. Due to this, the temperature has started decreasing. Even after this, the sale has remained sluggish here. Earlier, there was a recession of $2,50 in it. But there has never been enough pressure since the arrival of new dry ginger in Kochi, Kerala. Here, the price of ginger has increased in the local wholesale fruit-vegetable market in Azadpur. Ginger is coming here only from Bangalore. Here ginger has recently gained $0,03 – $0,06 and currently remains at $0,44 – $0,48 per kg.

On the other hand, dry ginger has remained regular at $1,68 – $1,75 per kg for the past few days due to sluggish buying by the stockists.

It was also reported that the price of dry ginger is around $1,75 – $1,88 per kg due to the position of the millers towards the dry ginger of Aurangabad. Due to the comparatively low price, Aurangabad’s dry ginger remains attractive to the millers. Whereas in Kochi, due to negligible arrival of dry ginger, the price remained at $2 – $2,13 per kg for the past few days.

It is to be known that even after the price of ginger has remained attractive in the country, farmers have been taking comparatively less interest in making alliances for the last several years. As a result, there is no chance of a price decrease for the commodity.