Projected lean production in Maharashtra the trigger
The price of jaggery has peaked, almost to the season’s best, at Anakapalle — one of the major markets in the country with a turnover of Rs.140 crore — thanks to spurt in demand.
The demand has shot up because of the forecast of delay in arrivals as well as projected lean production, mainly in Maharashtra and Karnataka to some extent, following drought conditions and festivals ahead.
The forecast has come at a time when the price of sugar too witnessed a rise of about Rs.800 per quintal, say market sources.
The third reason, according to trader Korukonda Butchiraju of Anakapalle, is the availability of less stocks in the market.
“It is still over two months for fresh jiggery season to begin here. Two-thirds of the stocks, which stood at about 2,500 truck-loads at one point of time, have been off-loaded. With the forecast that stocks are likely to arrive in Maharashtra after Deepavali, the limited stocks here are attracting good demand,” he says. The festival season, which begins with Vinayaka Chaviti and continues through Dasara and Deepavali, offers good demand.
He points out that over a period of one week, the price has risen from Rs.269/Rs.270 for a lump of 10 kg to Rs. 293 for the inferior black variety that is in much demand.
Trend in other areas
Confirming the trend, the prices at Kamareddy and Chittoor markets have also witnessed a rise. The superior quality has not witnessed such a spurt at Anakapalle, as Nidadavole in West Godavari district and Mandya in Karnataka generally cater to it.
Having off-loaded stocks earlier, traders now look forward to price touching Rs.300.