Raisin Prices Soften Slightly Amid Profit Booking, Long-Term Bullish Outlook Remains
25-Apr-2025 06:54 PM
New Delhi, April 2025 – After witnessing a record surge in prices in recent weeks, the raisin market has softened slightly due to profit booking and reduced demand at higher price levels. This correction has resulted in a price drop of Rs.10 per kg.
Analysts had previously anticipated this trend, with I Grain India forecasting in its March 20 and April 9 reports that increased conversion of grapes into raisins would eventually ease supply pressure, leading to a short-term dip in prices.
Production Decline for Second Consecutive Year
India’s raisin production has declined for the second year in a row. In the current season, only 15,000–16,000 carts of raisins have been reported, down from 19,000–20,000 carts in 2024 and 22,000–24,000 carts in 2023.
Record High Prices
Earlier this month, raisin prices in key producing markets like Tasgaon and Sangli had touched an all-time high of Rs. 270–Rs. 290 per kg. However, as selling intensified at higher levels, the market corrected slightly to Rs. 260–Rs. 280 per kg. The previous record price was Rs. 250–Rs. 280 per kg in 2014.
Limited Downside, Bullish Sentiment Intact
Despite the recent softening, market experts believe the downside is limited. Lower production, tight stock levels, and declining arrivals due to the end of the season are expected to support prices. With demand expected to recover, another upward trend in prices is likely. Traders anticipate that prices may soon cross Rs. 300 per kg.
At the start of the current season, only 500–600 carts of raisins were available in Maharashtra's markets compared to 2,500–3,000 carts last year, contributing to the ongoing bullish market sentiment.
Global Outlook and Export Potential
Global dynamics are also supporting the Indian raisin market. Turkey, a major global producer, has reported lower raisin production this season, which may drive increased exports from India. India’s average annual raisin exports of 32,000–33,000 tonnes are likely to rise further this year, buoyed by favorable global demand and tighter international supply.