India : Ginger prices skyrocketing

An indispensable ingredient in many a dish, the spice ginger, nowadays comes at quite a high premium if current market prices are to go by. The favoured spice, it is found, is being retailed in the local market at rates ranging between Rs 60 and Rs 80 per kilo, an increase of more than thrice its wholesale price.

When enquired in the wholesale market, it was found to be sold at rates of only Rs 20-25 per kilo. Around this time last year, if people in the trade are to be believed, the wholesale rates were between Rs 14 to Rs 20 while the retail price was at Rs 30-40 per kilo.

Compared with other parts of the north east every year, prices of vegetable commodities and spices, especially ginger, in Dimapur were quite cheap the whole year round, it was informed. But this year, the buying price of the favoured spice has been extraordinary. Dibrugarh (Assam) is one place in the north east, it was heard, where the spice went for a high price. There also, suppliers from Dimapur said, the retail price this year is Rs 40-45 while the whole sale price is only around Rs 35 per kilo.

Why this unexpected jump in price? Some people say that this type of price rise in the ginger trade is a recurring “phenomenon”, wonder whatever that is. It is said that the unprecedented rise in ginger prices occur in the market every three to five years. Some attribute it to the low supply at this time of year as the sowing season will begin in a month or so. However, wholesalers say there is no downturn in supply as such, despite the fag end of the supply season.

There is a story going round that those gingers which are being sold in the market at present are “saplings actually meant for planting”, wherever those came from.

While still others say the quality and freshness of gingers degenerate with time affecting the profit margin of retailers. It is assumed that this is one of the main reasons that have contributed to the unprecedented rise in its price. Also retailers say that ginger unlike other spices and vegetables do not sale as quick. This, it is speculated, can be attributed to consumption of the spice by people in little quantities. Owing to this most retailers do not buy it in bulk. Retailers at the most buy 10 kilos in one go disclosed some wholesalers.

Whatever may be the reason an effective price control mechanism must be put in place to check such self-regulating market trends. It ultimately affects the consumers at large. The official price chart of vegetables and spices put in place by the DMC at New Market, Dimapur, is blank safe for the name of the commodities. It has not been updated in months it is said.

Source : Morung Express