India's jaggery rises 10% to ₹67 as sugar rises 15%
Jaggery prices just jumped 10% to ₹67 per kg, thanks to more people picking it over regular sugar, especially with festivals coming up.
Sugar itself is up 15% due to lower production and higher demand.
Raman Singla, a Delhi-based trader, said, "Jaggery prices are rising amid increasing consumer demand. There is also a psychological factor at play. When sugar prices rise, consumers tend to perceive jaggery as a relatively attractive alternative, which can further support its demand and prices."
India supplies over 70% global jaggery
India makes over 70% of the world's jaggery, using about one-third of its sugarcane crop for it.
But with last season's weak harvest, there's less jaggery around and prices are rising.
The packaged jaggery market here is booming (worth $800 million), but experts remind us that even natural sweeteners like jaggery should be enjoyed in moderation.