No possibility of further fall in the price of jaggery

07-Feb-2025 05:25 PM

It looks like the jaggery market is experiencing some stabilization after fluctuations over the past month. The supply of jaggery has been steady, largely due to favorable weather conditions in Uttar Pradesh, which has improved production.

However, with demand holding steady, especially with the cold weather increasing consumption, it seems like the price of jaggery is not likely to fall any further in the near future.

While some markets like Hapur and Muzaffarnagar saw price drops, others such as in Mumbai are witnessing price increases due to strong demand.

In particular, the price of Chaku Jaggery and Laddu in Muzaffarnagar has been on the rise, and even though the price of Pedi Jaggery saw a dip in some places, it is recovering, now standing at Rs 3700/3800 per quintal.

The demand for jaggery from ethanol manufacturers is also contributing to market activity, keeping things stable overall. The production cost is higher due to the price of sugarcane, so this is also limiting the possibility of further price reductions.

In summary, while there have been price fluctuations, the outlook suggests that the prices are stabilizing and are unlikely to fall much further due to strong demand and production costs.