In winter, the sweetness of jaggery will remain somewhat expensive. Speaking of now, jaggery is coming in the market, but consumption is also very high. Experts are assuming that the demand for jaggery will remain till Makar Sankranti next month. In such a situation, there is little hope of getting special relief in jaggery by mid-January. They say that the futures prices of jaggery can touch the 1150 level around Makar Sankranti next month. However, there may be a softening of the demand after that. Let us know that the January futures on the National Commodity and Derivatives Exchange Limited (NCDEX) is currently running at 1115.
Future trading of jaggery on NCDEX has started from 15 December. On December 15, it was opened at 1062 level on the exchange. The base value of jaggery being traded on NCdex is fixed on the basis of 40 kg. According to market experts, the futures prices of jaggery are expected to reach Rs 1100 level after Makar Sankranti. NCDEx has set up a base center at Muzaffarpur (Uttar Pradesh) for the jaggery futures contract as it has better infrastructure support and many processing units for jaggery. This is the only center set for forward delivery.
60% jaggery is prepared in India
The highest production of jaggery is produced in India worldwide. India produces around 60 per cent of jaggery. However, Brazil is at the forefront of exports. Brazil is the largest exporter of jaggery worldwide and the largest importers are USA, China and Indonesia. Talking about the production of jaggery in India, the highest quantity of jaggery is produced here in Uttar Pradesh. 80 percent of the country’s jaggery is produced in only four states Uttar Pradesh, Maharashtra, Karnataka and Tamil Nadu. 47 percent of the country is prepared in Uttar Pradesh, 21 percent in Maharashtra, 8 percent in Karnataka and 5 percent in jaggery in Tamil Nadu. Jaggery from India is exported to Sri Lanka, Nepal, Indonesia.
Factors influencing jaggery price
Many factors affect the price of jaggery, which is called the ‘sweet of the poor’. In addition to the demand on normal days, the prices of jaggery are also affected by the festive season. Apart from this, the price of jaggery is also affected by the price of food given to animals. The price of jaggery fluctuates with the price of other sweet items like sugar.
Demand will continue till Makar Sankranti
The highest demand for jaggery is in winter. Apart from this, its demand increases on Makar Sankranti. In such a situation, it cannot be expected to decrease its price till the middle of January 2021 next year. According to Anuj Gupta, deputy vice president (commodities and currencies research), brokerage firm Angel Broking, jaggery is coming in at the moment but its consumption has also increased, so it may show a slight rise in prices till Makar Sankranti. After Makar Sankranti, it will soften in its price.
Despite the decline in production, the price does not rise much
This time the production of jaggery has been affected, in spite of this, the prices of jaggery are currently running around Rs 50 in the physical market. According to Kedia Commodity Director Ajay Kedia, the lockdown imposed due to corona epidemic this time affected the demand for jaggery. Due to this, the prices of jaggery were not able to climb even though it was low. ICAR (Indian Institute of Agricultural Research) – According to the data given on Sugarcane Breeding Institute Coimbatore, production of sugarcane is estimated to be 37,77,66,000 tons in 48.67 lakh hectare area in 2019-20 as compared to 40 in 51.14 lakh hectare last time. 01.57000 tonnes of sugarcane was produced. Jaggery is prepared wherever sugarcane is produced throughout the country.
Use of jaggery throughout the year
The arrival of jaggery is from October to April but its consumption remains throughout the year. Jaggery is used as an immediate source of energy. Apart from this, it is also used in many types of dishes. Jaggery is considered a medicinal sugar and is compared with honey in terms of nutrition. This is not only beneficial for humans, but animals are also given food to digest and their productivity also increases with jaggery. BP from jaggery is controlled, increases hemoglobin which prevents anemia. Thus, jaggery also has medicinal benefits.