Celery Trade Promises Profits Despite Challenges
Prices Expected to Increase Further
The arrival of the celery crop in all major producing markets has seen a slight price increase of $0,12 to $0,18 per kg this month. However, due to unfavorable weather conditions, there are concerns about the quality and quantity of the crop. This has led to market stagnation, with expectations of a further $0,18 to $0,24 per kg increase in prices.Last year, high celery prices encouraged farmers to increase their sowing area. Yet, recent adverse weather has reduced the crop by 27-28%. Consequently, prices have risen, and the current arrivals in most markets are about half compared to the same period last year. In markets such as Nandurbar, Vikarabad, and Jamnagar, celery prices range from $2,16 to $2,52 per kg. There is a scarcity of quality washed goods, with green goods also in short supply. In Jamnagar and Nandurbar, new celery is priced at $1,98 to $2,04 per kg, with good quality trading at $2,10 to $2,16 per kg.
Low Supply and High Demand Drive Market Potential
Old stock in all markets has been significantly reduced. In Rajasthan and Gujarat, good quality old celery is selling for $2,16 to $2,22 per kg, while in Neemuch and Mandsaur, prices range from $1,92 to $1,98 per kg. Premium selected goods are quoted at $2,22 to $2,28 per kg.Traders predict that the current medium-grade celery, priced at $2,04 to $2,10 per kg, could soon rise to $2,22 to $2,40 per kg. In Delhi, top-quality celery may reach $2,76 to $2,88 per kg. Despite this, it's advisable to continue selling goods regularly. As the market can fluctuate with the arrival of low-cost washed goods. While consumption in regions like Haryana, Punjab, Himachal, UP, and Delhi is steady. The market may see sporadic sales, making spot trading profitable in the near future.
Despite the challenges posed by unfavorable weather conditions and reduced crop quality, the celery market shows promising potential for profit. With prices expected to rise, strategic trading and regular sales can ensure favorable outcomes for traders.
