After an interval of five years, ginger price is on an upswing owing to better demand across the markets.
The spot price for ginger rhizome touched ₹1,850 a bag (60 kg) in Wayanad on Wednesday as against ₹1,000 to ₹1,100 a bag a few weeks ago.
The price was ₹1,300 a bag during the corresponding period last year. It was reported that high-quality ginger was trading at ₹2,000 a bag in Karnataka, say trade sources.
Though the demand has increased, availability is restricted to some regions of Mysuru, Shivamoga, and Hassan districts in Karnataka and a few pockets of Wayanad.
Moreover, Keralite farmers cultivating the produce on leased land in Karnataka are holding the produce providing a huge amount to the landowners for extending the lease period, Navrang Mohanan, general secretary, Kerala Ginger Growers’ Association, says.
They are anticipating a better price for the commodity in the coming months. Close to 70% of the produce have been harvested in Karnataka, says Mr. Mohanan.
The price of ginger had shot up to ₹8,500 a bag in 2013 and farmers are anticipating that the price will shoot up further during August–September this year.
The availability of ginger in the market from the northern States and Nepal is also low, contributing to the price rise. Moreover, ginger export to Bangladesh from southern India through the Nagpur market has also helped in increasing the price, say the sources.
The momentum is likely to persist, considering the low availability of ginger. The demand-supply gap of the commodity is expected to grow till the end of September when fresh stocks will begin to arrive in the market, says a leading trader.
Ginger cultivation of Keralite farmers on rented land in Karnataka, Maharashtra, and Goa had come down considerably this year after many farmers incurred huge losses owing to the low price of the produce in the previous years, says Mr. Mohanan.
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