India is the largest producer of ginger in the world with an annual production of 1.5-2 million tonnes. China, with an annual production of 1-1.5 mt, dominates the global ginger market. World production of ginger is estimated at 4-5 mt. Nigeria produces about 0.5-1 mt while Indonesia produces about 0.5 mt.
According to Anand Kishor Kuruwa, President of the India Pepper and Spice Trade Association (IPSTA), the country’s production of fresh ginger is expected to be down by nearly 30 per cent this year as compared to last year.
“India has had two consecutive years of flood so we hardly have 50,000 bags (one bag holds 50 kg) of dried ginger as carry forward this year; last year, we had 2 lakh bags of carry forward of dried ginger. Lower carry forward stock and the estimated drop in production this year have pushed up ginger prices in India,” Kuruwa told BusinessLine.
Raw ginger prices are ruling at ₹45-52 a kg at present, almost 136 per cent higher than ₹17-22 a kg, the same time last year.
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February 25, 2020