Ginger Prices: Due to good arrivals ginger Prices are under pressure.

Indian dry ginger prices at a premium of $ 500 per tonne at $ 2700, exports from the country are lower than last year. Ginger prices are under pressure due to good arrivals.

India produces almost a third of the world’s production of 8.35 lakh tonne hence 2.75 lakh tonne of ginger per annum

Ramalingam Vishwanath of GRK Traders told, “Indian exports were good in the first two quarters, but now we are facing stiff competition from China and Nigeria. Nigeria is quoting $ 2100 per tonne and China is selling at $2200.”

He also added that they expect Indian market to decline as arrivals increase in the coming days. The production is good in the current crop season. India exported 10,950 tonne of the commodity during April-September period of 2015 as against 8,650 tonne for the corresponding period of 2014, says Spices Board data.

The unit price of export in 2015 stands at R138.05 per kg as against R110.94 in the previous year. Board records show that Indian ginger is priced at $5.73 per kg in the New York market compared to $ 4.59 per kg for Chinese whole peeled ginger.

Source: http://www.financialexpress.com/