Prices for Sorghum Could Spike by December if Demand Increases
Low Supply and Anticipated Demand Could Drive Prices Higher
According to market analyst Narendra Jain, sorghum prices may rise significantly after December if demand increases. Current market trends reflect stable prices due to low demand, but the limited crop size and depleted stocks could cause a price spike in the coming months.Current Prices and Regional Insights
- Rajasthan: Prices for local sorghum are between USD 0,49–0,50 per kg High-quality No. 15 variety sorghum is priced at USD 0,33–0,35 per kgÂ
- Gujarat: Green fodder quality sorghum ranges from USD 0,31–0,33 per kg
Key Factors Influencing Prices
- Production Drops Across India: Nationwide, sorghum production has dropped sharply, with Rajasthan’s No. 15 variety also seeing a 30–40% reduction.
- Competing Crops: Higher yields of millet and maize have temporarily capped sorghum prices.
- Farmer Sales: Farmers are offloading stocks early due to financial needs, which could lead to shortages later.
Conclusion:Â
With supply tightening and demand likely to increase, holding off on selling could yield better profits for farmers and traders. Buyers should act quickly if prices begin to rise significantly.Click here to reach our trading platfrom CMBroker
