Vagaries of monsoon boost jaggery prices

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Sify.com / Finance / Default / Vagaries of monsoon boost jaggery prices

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By Dilip Kumar Jha & V D S Rama Raju

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Source :
Last Updated: Sat, Aug 18, 2012 00:40 hrs

Deficiency in rainfall this monsoon has started weighing on jaggery with its prices
jumping up to 10 per cent since the beginning of the month. The sweetener's upward
march also got support from lower production during the last season amid rising
consumption.
In Vashi Agricultural Produce Marketing Committee (APMC) market, jaggery supply has
deteriorated in the last one month as jaggery production units (kolhus) have halted
production due to exhaustion of sugarcane. As a consequence, traders are supplying
to mandis from cold storages which they had stored during the peak cane crushing
season. Arrivals in Vashi APMC have declined by 40-50 per cent in the past month to
around 240-250 tonnes. The supply shortage has pushed jaggery prices of all varieties
in Vashi APMC market up by Rs 300-400 to trade between Rs 3,200 and Rs 4,500 a
quintal.
More than the deficient rainfall, lower production and carryover stocks in the market
are pushing up the price during the ongoing lean season. Until, new arrivals begin,
prices would remain firm, said Deepak Shah, president, Bombay Gur Merchants'
Association.

9/24/2012 8:49 AM

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most popular o
generally do not crush cane with
less than 7-7.5 per cent of

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recovery. But, under pressure from

Movi

the government, mills especially in state advised price (SAP) states crushed as much

3 peo

cane supplied to them irrespective of recovery.

New
with

In a move which could support jaggery's upward trend, Indian Meterological

9 peo

Depar-tment estimated 19 per cent rainfall deficiency so far this season resulting into

t20 s

an estimated 10 per cent lower cane crop this year. Proportionate decline in jaggery

8 peo

production cannot be ruled out, said Hapur-based jaggery trader Vijendra Kumar
Bansal, proprietor of Durgadas Narayandas. The sweetener from old stock was also
quoted at Rs 29,000-30,000 a tonne, higher by Rs 3,000-3,500 in Anakapalli, Andhra

Facebook soc

Pradesh, India's second-largest jaggery market.

Vagaries of monsoon rainfall are fuelling jaggery prices, said K L N Rao, president,

talking point o

Anakapalli Jaggery Merchants Association and added, Jaggery prices have gone up
by around 10 per cent.

Opposition s
Congress de

Barring Western Uttar Pradesh, jaggery price has risen in all regions including
Madhya Pradesh, Andhra Pradesh, Karnataka and Maharashtra. Apparently, the trend
is likely to continue until the new season output hits the market, said Arun Khandelwal,

2 comments

India allows W
Walmart out`

president, Federation of Gur Traders, Muzaffarnagar.

4 comments

In fact, this year, jaggery traders of Anakapalli market have enjoyed good profits by

Hinduja Glob

disposing of their old stocks. Traders procured about 23,000 tonnes of jaggery for

1 comment 9

stocking from farmers on an average price of Rs 22,500 a tonne, and about 60 per

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cent of their stock was sold to other states at Rs 26,500 a tonne.

gain
1 comment 9

Since past two weeks, these prices have increased rapidly and now traders from other
states are offering jaggery at Rs 29,000-30,000 a tonne, K Buchi Raju, senior trader

The great Em
4 comments

at Anakapalli market, said. As of date, Anakapalli traders are still holding about 6,500
tonnes of jaggery, but this stock will also finish very shortly with good price, he added.

9/24/2012 8:49 AM

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Due to drought conditions in Karnataka and Maharashtra, traders are expecting delay
in new jaggery arrivals, so we can fetch good earnings on our old stock, Raju said.

today's most r

"Anakapalli region also recorded very low rainfall. Thus, we are anticipating minimum

Honda to lau

45-60 day delay in new jaggery arrivals. Due to this, traders of Orissa, Bihar and

stormy petro

Jharkhand are paying more prices for existing stocks, which are very low in quantity,"
he added.

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Walmart out'
Vagaries of monsoon

Jaggery prices

Rising consumption

APMC market

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Lower production
Deepak Shah

K L N Rao

IIT Bombay-i
VCs

Arun Khandelwal

Anakapalli Jaggery Merchants Association

Vijendra Kumar Bansal

Maharashtra

Karnataka

Read 175 Tim

Federation of Gur Traders

Bombay Gur Merchants' Association

Vashi Agricultural Produce Marketing Committee

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