After an interval of four years, ginger price has been spiralling owing to scanty arrival of the commodity and a great demand for the produce.
The spot price for ginger rhizome touched ₹1,850 a bag (60 kg) in Wayanad on Saturday as against ₹1,000 a bag a few weeks ago.
It was₹1,150 a bag during the corresponding period last year. It was reported that high-quality of ginger was trading at ₹2,300 a bag (60kg) in Karnataka, trading sources said. Though the demand has increased, availability is restricted to some regions of Mysuru, Shivamoga, and Chamarajanagar districts in Karnataka and some parts of Wayanad.
Moreover, the farmers were holding the produce, anticipating a better price for the commodity in the coming months, sources added.
The price of ginger had shot up to ₹8,500 a bag in 2013 and the farmers were anticipating that the price of the produce would shoot up further during May- July this year.
Scanty arrivals
The availability of ginger in the market from the northern States and Nepal is also very low, which has contributed to the price rise. Moreover, ginger export to Bangladesh and Pakistan form South India through the Nagpur market also helped increase the price, sources said.
According to trade circles in Wayanad, the momentum is likely to persist, considering the low availability of ginger. The demand-supply gap of the commodity is expected to grow till August-end when fresh stocks would begin to arrive in the market, a leading trader said.
Ginger cultivation of Keralite farmers on rented land in various parts of Karnataka, Maharashtra, and Goa shrank considerably this year, after many a farmer incurred huge losses owing to the low price of the produce over four years, N. Mohanan, general secretary, Kerala Ginger Growers’ Association, said. Moreover, rent of the land for cultivation also increased this season in Karnataka, he added.
