The raisin market is steady, but with low domestic and international demand, the prices may lower in the upcoming days.
In July, though, the market started on a positive note at $2,42/kg for Golden Raisin AA Quality. The price decreased to $1,66/kg before picking up and closing the month at $2,38. It was the same story for all the other two varieties, i.e., Black Raisin AA Quality and Malaya Raisin AA Quality. The opening prices for the market for both categories were higher than the month’s closing price.
Black Raisin AA Quality was $1,17/kg on July 1, and Malaya Raisin AA Quality was $1,19/kg on the same day. However, both had a slump while Black Raisin ended the month at 1090, Malaya Raisin closed at $1,11/kg.
Several factors have affected the price of the raisin on the market. First, there is already 0.25 million tonnes less production of raisins compared to last year. Also, due to the coronavirus, the auction of raisins was called off last year too. Furthermore, this year’s raisin production started two months late due to the weather conditions.
According to traders, the lack of migrant workers who work in the raisin production between January and the end of April has put a strain on the local workers. Moreover, due to the COVID-19, most of the labourers from Bihar, Madhya Pradesh, and Uttar Pradesh returned to their hometowns and couldn’t come for the last phase of the production.
With all these factors, along with reduced domestic and export demand, the prices are going southward. But with the festivals coming up, the trend might pick up.
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