Ginger Market: Recent Highs and Upcoming Lows

The market shows signs of a slowdown after a recent surge in ginger prices. While fresh ginger from Bangalore is trickling in, its availability remains far from the norm. Consequently, dry ginger may be limited in the days ahead.

The monsoon has bid adieu to many Indian states, including the capital, Delhi. However, peculiar rainfall patterns persist in several other regions. Heavy rains wreaked havoc in hilly states like Himachal and Uttaranchal, while nearly one-third of the country grapples with drought-like conditions—a historic drought marked August. Nevertheless, fresh ginger from Bangalore continues to go to Delhi’s wholesale fruit and vegetable market.

The price of this new ginger has recently dipped by $0,06 to $1,27-$1,27 per kg. Not long ago, it had surged by $0.24-$0.30, hitting a record-breaking high of $2,41-$2,71. Monsoon showers grace South India and other states, and the allure of higher prices has prompted farmers to sell most of their crops. Reports surfaced about ginger commanding an astonishing $2,41 per kg in the Kochi wholesale market.

However, dry ginger mills are nowhere to be found due to limited arrivals and availability below par. Consequently, ginger arrivals from producing states still need to be subdued. Furthermore, stockists’ dry ginger sales have slowed with rising temperatures.

Conversely, in the Kochi market of Kerala, there has been little pressure on dry ginger prices since the arrival of the new crop. The primary reason for the surge in ginger prices is the significant selling by producers, accounting for about 90-95 percent of the stock.Sagar Line reported dry ginger prices at a higher cost, reflecting millers’ inclination towards ginger from Aurangabad. This preference has shadowed ginger from other states, leading to a decline in Kochi’s price. Aurangabad’s sandha variety remains attractive to millers due to its competitive pricing. Despite the tempting prices in the country, farmers have displayed relatively less interest in producing dry ginger over the past few years. Consequently, dry ginger is poised to remain within a constrained range in the foreseeable future.

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