Raisin’s price had remained steady since it dropped last month. Therefore, it was a relief to the traders and stockists as the price went up on November 10. With improvement in prices, the long wait for the commodity traders is over, and the traders expect it to remain steady in the coming days.
Along with other dry fruits, the demand for raisins is also reaching a stable place, with many conglomerates ordering dry fruits as a gift for their employees. Since raisins, cashew, pistachio, and almond are often bought and gifted during Diwali and Dhanteras. With Christmas and New Year coming up, the prices for raisins and the other dry fruits are expected to remain steady.
The earlier apprehension related to the shortage of dry fruit supply from Afghanistan due to the Taliban regime proved wrong. There is a steady supply of dry fruits from the country along with Iran and the US. According to Mumbai Dry Fruits Trader’s Association, President Vijay Sigh Bhuta, the sales of dry fruits is relatively higher than last year and have almost reached the 2019 pre-COVID level.
The good production of yellow raisins in Belgaum Karnataka and the western belt of Maharashtra has also contributed to the steady pricing of the dry fruit.
According to dry fruit traders, there is a likelihood of the prices for raisins and other dry fruits surging with good demand from corporates, pharmaceuticals, fintech, banking, and other such sectors.
The expectation is that local bakeries and even domestic demand for dry fruits will increase during the winter due to the increase in the use of dry fruits in making Christmas and New Year’s cakes.
Golden Raisin AA Quality
|November 11||$1,65 per kg FOB|
|November 9||$1,63 per kg FOB|
|October 14||$1,65 per kg FOB|
Black Raisin AA Quality
|November 11||$1,08 per kg FOB|
|November 9||$1,06 per kg FOB|
|October 14||$1,07 per kg FOB|
Malayar Raisin AA Quality
|November 11||$1,14 per kg FOB|
|November 9||$1,13 per kg FOB|
|October 14||$1,15 per kg FOB|
On October 18, the price dropped and stayed the same till November 9, after which there was a slight price increase on November 10, and it remained the same till the market closed on November 11.
With the steady import of dry fruit from the US, Iran, and Afghanistan, the prices won’t skyrocket, but they will stay firm with good domestic demand. Traders are hopeful that slight appreciation in the price can occur in December with the upcoming festivities and New Years’ celebration.
Since people are eager to celebrate the easing of the lockdown and other restrictions imposed due to COVID-19, an increase in the consumption of dry fruits is expected. With eating places and restaurants opening up, the sale of products using dry fruits will also increase, which is good news for the market.
It remains to be seen how better the raisin and dry fruit market improves in the coming days.
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