Increase in Dry Ginger Prices
The dry ginger market has witnessed a notable increase in prices, driven by a supply that is weaker than normal and a surge in demand. This has not only escalated the cost but also enhanced the quality and attractiveness of ginger in the market. The anticipation of profit-booking selling in the coming days suggests a near-future stabilization in prices.
Regular updates keep our readers informed about the rise and fall in dry ginger prices, enabling them to benefit from market fluctuations. The onset of winter has led to a decrease in sales, particularly in regions outside the hill states, despite the continued snowfall in mountainous areas.
Supply Constraints and Price Adjustments
In Delhi, the arrival of ginger from major production areas like Bangalore has been limited, impacting the market price, which recently increased by $0,60 to $1,20, reaching a current rate of $0,96 to $1,08 per kg. This adjustment follows a period of rapid price escalation where prices once soared to $2,40 to $2,70 per kg, illustrating the market’s volatility.
Furthermore, the wholesale price in Kochi has surged to a new high of $2,40 per kg, indicative of significant market movements due to constrained availability and production levels. The diminished capacity for milling ginger due to these supply shortages has resulted in a weakened arrival from producing states.
Market Stabilization Anticipated
The market is expected to undergo a phase of profit-booking due to the recent price surges, followed by a stabilization trend. The tightening supply coupled with increased demand from stockists has led to a significant price leap, now stabilizing at approximately $4,68 to $4,74 per kg, recovering from a prior decrease.
While new arrivals of dry ginger in Kerala remain sporadic and high-priced due to limited availability, the decrease in Kochi prices by $0,24 to $0,30, currently standing at $4,80 to $5,10 per kg, reflects the market’s response to supply and demand dynamics.
The dry ginger market is expected to navigate through these fluctuations with a keen eye on supply and demand changes. As market participants anticipate a period of profit-booking followed by stabilization, the global dynamics, regional supply issues, and consumer demands continue to shape the market’s future trajectory.