Truckloads of sugarcane heralding the Pongal festival have started arriving in the city.
This time however, they are pegged at just half the usual price.
The drought across many parts of the State has had an impact on the arrivals at the Koyambedu wholesale market this time.
It’s a double whammy for traders at the market who have to tackle fewer arrivals and less demand due to the cash crunch in the wake of demonetisation.
Though the number of trucks bringing sugarcane doubled to 400 on Thursday, it was still far less than last year, said traders.
A. Dhanakodi, a trader from Soorakottai near Thanjavur, said: “I bring sugarcane from Soorakottai and Madurai. A bundle of sugarcane, consisting of 20 pieces, is usually sold for ₹500. But this time, it is being sold for only ₹200-300. The shortage of cash has brought down the demand, and prices have also dropped. I will get only a marginal profit.”
The city market gets its sugarcane loads from Madurai, Tiruchi, Salem and parts of Andhra Pradesh.
P. Sukumar, joint secretary, Koyambedu Vegetables, Fruits and Flowers Merchants Welfare Association, said a single piece of sugarcane was being sold for ₹18-20. “During Pongal, we make brisk business for four days. But, this time, sales came down by half because of the cash crunch and fewer arrivals,” he added.
Traders noted that several truckloads of sugarcane were still in stock as there were no takers. S. Chandran, a wholesale trader, said: “Only 5-6 truckloads of turmeric and ginger arrived on Thursday. Last year, we were receiving 20 trucks. A bundle of turmeric is priced at ₹70. Similarly, prices of most vegetables have also remained low for a month because of the decrease in demand.”
However, some retail traders were in for a surprise as the prices of banana escalated on Thursday, owing to fewer arrivals.
S. Khader, a retailer from Avadi, was negotiating prices at the market.
“The cost of the produce is usually fixed through an auction. I had to pay up to ₹600 for banana bunches that otherwise used to cost ₹200. I had no choice other than to reduce the purchase to manage with the cash I brought,” he said.
This time however, they are pegged at just half the usual price.
The drought across many parts of the State has had an impact on the arrivals at the Koyambedu wholesale market this time.
It’s a double whammy for traders at the market who have to tackle fewer arrivals and less demand due to the cash crunch in the wake of demonetisation.
Though the number of trucks bringing sugarcane doubled to 400 on Thursday, it was still far less than last year, said traders.
A. Dhanakodi, a trader from Soorakottai near Thanjavur, said: “I bring sugarcane from Soorakottai and Madurai. A bundle of sugarcane, consisting of 20 pieces, is usually sold for ₹500. But this time, it is being sold for only ₹200-300. The shortage of cash has brought down the demand, and prices have also dropped. I will get only a marginal profit.”
The city market gets its sugarcane loads from Madurai, Tiruchi, Salem and parts of Andhra Pradesh.
P. Sukumar, joint secretary, Koyambedu Vegetables, Fruits and Flowers Merchants Welfare Association, said a single piece of sugarcane was being sold for ₹18-20. “During Pongal, we make brisk business for four days. But, this time, sales came down by half because of the cash crunch and fewer arrivals,” he added.
Traders noted that several truckloads of sugarcane were still in stock as there were no takers. S. Chandran, a wholesale trader, said: “Only 5-6 truckloads of turmeric and ginger arrived on Thursday. Last year, we were receiving 20 trucks. A bundle of turmeric is priced at ₹70. Similarly, prices of most vegetables have also remained low for a month because of the decrease in demand.”
However, some retail traders were in for a surprise as the prices of banana escalated on Thursday, owing to fewer arrivals.
S. Khader, a retailer from Avadi, was negotiating prices at the market.
“The cost of the produce is usually fixed through an auction. I had to pay up to ₹600 for banana bunches that otherwise used to cost ₹200. I had no choice other than to reduce the purchase to manage with the cash I brought,” he said.