Indian traders have closed the raisin business for a month to clear the due raisin payment. Soon there will be a trader, jobbers, and market committee administration meeting, and the topic of discussion will be zero payment.
Current Scenario
Raisin Trade Association said that a decision will be taken on when to start the deals after the payment clearance. The concept of zero payment was introduced to facilitate the timely exchange of payments and to arrest bogus buyers. There is a bond between the traders that the buying and selling of raisins will not occur until the due payments are cleared. This decision was implemented on 13th October.
Future Scenario
For traders who could not make the payment last year, trouble is coming to their doorstep, and that’s why billions of rupees have yet to be received from the current deal. As a result, two to three meetings were held in this regard. However, there’s no way out, as the sales were delayed due to closed raisins operations. The current producers are considering whether the agreement will be initiated in a single meeting this year.
The Malayar Raisin AA Quality prices were recorded at $1,39 per kg FOB.
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