As the month of Ramadan progresses, the date market in India is witnessing a significant surge in prices, driven by increased demand. The commencement of Ramzan has traditionally been a period of heightened consumption for dates, a staple for breaking the fast. This year, the market dynamics are no different, with prices experiencing an uptick of 15-20% across various varieties.
Market insiders attribute the price rise to a combination of factors, including the increased demand that accompanies Ramadan and a shortfall in supply due to global production fluctuations. Among the varieties, the prized Ajwa dates have seen a notable price increase, now retailing at Rs 2,000 per kg, up from Rs 1,600-1,800. Similarly, the popular Mariam variety is now priced at Rs 800 per kg, marking a significant rise from its previous rate of Rs 600-700.
Traders are navigating the supply-demand imbalance by tapping into stocks from last year, albeit at higher costs. "The demand for dates increases by about 100% during Ramadan," a local trader was quoted, highlighting the spike in consumption during the fasting month. With the festive season in full swing, the trend of rising date prices is expected to continue, reflecting the intricate balance of market forces at play in the date industry during this period.
[ Rs 100 = €1.10 ]
Source: timesofindia.indiatimes.com
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