Are Rising Prices Stalling Raisin Sales?

The Raisins Resurgence: Festive Demand Fuels Growth Navigating the Seasonal Surge in Raisin Markets

Mintec Global
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The domain of raisins is experiencing a robust revival, fueled by the festive fervor that sweeps through the market. This resurgence in demand has not caused prices to waver significantly, holding steady despite the heightened interest. Maharashtra, the crowned monarch of grape production in the nation, has also emerged as a critical raisin-producing hub. 

Potential price hike

Approximately 0.15 million tonnes of raisins have already graced the market, yet an untapped reserve remains of 0.13 million tonnes. Producers are rejoicing in the abundance of bumper yields and favorable prices, and as the festive season looms ever closer, the stage is set for a potential price hike. Interestingly, many farmers have taken it upon themselves to partake in raisin-making. Raisin production has recorded a remarkable upswing of nearly 1 lakh tonnes compared to the previous year. Post the tumultuous period of COVID-19, grape prices experienced a modest uptick, rendering raisin production a more attractive prospect. However, the beginning of the season bore witness to a dip in raisin prices in May. 

Farmers, adapting to this market dynamic, opted to stockpile their raisin treasures instead of immediately releasing them for sale. As the demand for raisins gradually ascended, so did their market value. The surge in demand was aptly timed with festivals like Ganpati, Dussehra, and the much-celebrated Diwali, which was initiated in August.

With festivals looming large, a spirited competition among buyers commences, propelling the demand for raisins to unprecedented heights. Farmers, recognizing this golden opportunity, endeavor to capitalize on this festive spirit by supplying abundant produce to meet the burgeoning demand. For consumers, however, quality often commands a premium, necessitating a willingness to pay two to three times the standard price.

The season for new raisins kicks off in the second week of February, with arrivals gradually increasing as March unfolds. Trading pundits estimate that approximately two lakh tonnes of raisins have traversed the market in eight months. As the festival of lights, Diwali, approaches, sales volumes and prices are poised for further ascent, mirroring the seasonal fervor.

The Raisins golden grade AA price were recorded at $1,86 per kg FOB

 

Import/Export Statistics

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