Thu, Mar 30, 2017 | updated 12:17 PM IST

Rains lead to increase in vegetable prices by 40 pct, says ASSOCHAM

Updated: Aug 02, 2016 14:33 IST

New Delhi, Aug 2 (ANI): Prices of vegetables such as lady fingers, cabbage, beans, brinjal have increased by 35 to 40 percent over a month as heavy rains in several parts of the country have hit the supply line to Delhi-NCR, according to an ASSOCHAM paper.

The prices in Delhi's wholesale markets have gone up by nearly 35 to 40 percent over a month. Traders at the Azadpur Mandi, Asia's largest wholesale fruits and vegetables market, said crops are not coming out of the fields due to stagnant water in fields, leading to shortage. Also, the weather department also has predicted similar weather condition for the next few days.

The ASSOCHAM findings reveal that the perishable fruits and vegetables will bear the maximum brunt. Traders in Delhi said green or perishable vegetables like cabbage, Okra (bhindi), brinjal, Karela and coriander recorded high wholesale rates.

The disparity between Wholesale Price (WSP) and Retail prices for essential vegetables like bhindi (Okra), cabbage, Karela went up beyond 35 to 40 percent from 30 June to 30 July 2016, according to ASSOCHAM recent paper.

According to the paper, Cabbage, which was sold at 20 to 25 per kg in the wholesale market, touched 35 per kg. Similarly, wholesale price of brinjal varies between 20 and 25 per kg at Azadpur Mandi, adds the paper.

The crop lying in the field is bound to rot due to heavy rains. The crop is not coming out of fields and hence there is a short supply in the market, adds the paper.

Okra, which were available for Rs. 20 to Rs 25 a kg, are now being sold at Rs. 35 to 40 per kg in the market. In some of the localities in the city, vendors quote Rs. 50 a kg of Okra.

The prices of beans have increased twofold in the last few days and reached Rs. 55. Carrot also has become expensive and was being sold at Rs. 50 a kg.

Prices of other vegetables are green chilly (Rs. 60 per kg) garlic (Rs. 52), capsicum (Rs. 45) and lemon (Rs. 80/kg), ginger (Rs. 120), cauliflower (Rs. 48), corriander leavers (Rs. 120 a kg). The options are very less for common man who has to manage with potato (Rs. 20 a kg), onion (Rs. 18 a kg), brinjal (Rs. 24 a kg), cabbage (Rs. 33 a kg) and cucumber (Rs. 20 a kg), Spinach (Rs. 26 a kg).

The majority of Indian retailers are selling vegetables at prices which are significantly higher than the wholesale price index (WPI), reveals the ASSOCHAM latest study. The difference between WSP and retail prices on an average stays around 35 to 40 percent.

Wholesale price have benefited multiple times middlemen and traders, particularly for sale of essential commodities and worst hit in the process remained farmer and consumer as farmers margins squeezed badly with consumers paying unreasonably higher prices.

Due to difference in both prices of wholesale and retail prices, the extra amount which end consumers are paying for vegetables is utterly disproportionate, adds the findings of the paper.

The essential vegetables incorporated in the study are brinjal long, brinjal round, cabbage, garlic, ginger, chilly, okra, peas, potato fresh, potato store, tomato hybrid and tomato local, highlights the paper.

ASSOCHAM urges government needs to improve infrastructure facility through encourage public private partnership (PPP) initiate for the development of cold storage and facility should be provided those farmers which are coming from the long distance area.

On the retail front, the analysis has observed that retailers are charging very high prices as compared to wholesale prices of the vegetables. In such scenario, government needs to play proactive role to control the retail price through surveillance scheme, adds the paper. (ANI)

New Delhi [India], Mar 30 (ANI): London Stock Exchange today welcomes the world's largest corporate Masala bond. The landmark bond issuance from Housing Development Finance Corp (HDFC), one of India's leading banking and financial services companies comes less than 12 months after HDFC's INR 30 billion (USD 450 million) debt issuance in London, the first ever Indian corporate to list a Masala bond.

Full Story >>

New Delhi [India], Mar 30 (ANI-BusinessWireIndia): Grameen Koota Financial Services Private Limited (Grameen Koota) has raised Rs. 250 crore from its holding company, CreditAccess Asia (CAA), headquartered in Amsterdam, which is the leading multi-country Microfinance operator in India and South-East Asia. Part of the infusion, Rs.50 crore, will be provided in the form of equity and the remainder, Rs.200 crore will be provided in the form of Compulsory Convertible Debentures (CCDs).

Full Story >>

New Delhi [India], Mar. 30 (ANI): SBI Card, one of India's leading credit card issuers announced the launch of a credit card, 'SBI Card Unnati', targeted at all State Bank of India (SBI) customers, including Jan Dhan account holders, throughout the country.

Full Story >>

New Delhi [India], Mar. 30 (ANI): Metropolitan Stock Exchange of India Limited (MSEI), the third national level stock exchange is all set to conduct a mock trading session in equity, equity derivatives and currency derivatives segments on April 1, 2017.

Full Story >>

New Delhi [India], Mar 29 (ANI): Cloudatix Biz India Ventures Pvt. Ltd, a young research startup emerging as a Smart City Solutions provider and Mediaguru, a global media services company that specializes in the entire life cycle of digital asset management services, digitization and monetization, recently launched 'Startup Accelerator Program and Internet College'.

Full Story >>

Dong Nai [Vietnam]/Tokyo[Japan], Mar.29 (ANI): Vietnam is experiencing a rapid economic growth as customers' purchasing abilities have increased that leads to opening up of supermarkets.

Full Story >>

Rajya Sabha passes Finance Bill

Updated: Mar 29, 2017 17:58 IST

New Delhi [India], Mar 29 (ANI): The Rajya Sabha on Wednesday passed the Finance Bill after various amendments presented by Union Finance Minister Arun Jaitley.

Full Story >>

New Delhi [India], Mar 29 (ANI): G-20 Framework Working Group (FWG) in its third meeting at Varanasi held discussions over the state of the global economy as well asG-20 agenda on inclusive growth and reports on strong, sustainable and balanced growth and G-20 enhanced structural reform agenda among others.

Full Story >>

New Delhi [India], Mar 29 (ANI): A consortium of Siemens and Sumitomo Electric Industries Ltd. has been awarded an order from Power Grid Corporation of India, the central transmission utility of India, to supply a high-voltage direct current (HVDC) transmission system.

Full Story >>

New Delhi [India], Mar 29 (ANI): TiE Delhi-NCR, the world's largest network of successful entrepreneurs and professionals presents the sixth edition of India Internet Day to facilitate all conversations around India's aspirations as a future world leader and sustained, well-distributed growth of our vibrant economy.

Full Story >>

New Delhi [India], Mar 29 (ANI): India's first mobile app based B2B E-commerce player WYDR has announced hiring of Alok Varman as their new Vice President, Operations.

Full Story >>

New Delhi [India], Mar 29 (ANI): India's healthcare apex body NATHEALTH on Wednesday announced its new leadership team for the year 2017-18.

Full Story >>

New Delhi [India], Mar 29 (ANI): Leading open digital payments company PayPal has announced its partnership with Vistarooms.com to enable foreign travelers travelling to India book hotels in a safe and seamless manner and on a platform they are familiar with.

Full Story >>

New Delhi [India], Mar 29 (ANI): APUS Group, China's fastest growing unicorn with over 510 million global users has acquired Venture Catalysts-backed Siftr Labs for an undisclosed amount.

Full Story >>

New Delhi [India], Mar 29 (ANI): The 33rd Edition of India Carpet Expo, Organized by Carpet Export Promotion Council at Pragati Maidan, New Delhi, has received overwhelming response from around 350 buyers from across the world in the second day of the Expo. India Carpet Expo "Showcasing new Fall-winter collection, as per the buyers' requirements in terms of size, design, color and quality which is grabbing the interest of the buyers.

Full Story >>

New Delhi [India], Mar. 29 (ANI): Lakshya Digital, India's leading game art development company is hosting the 'Keywords Game Art Summit' from March 28 to 31 March at Gurugram, to discuss India's growing prominence as a game art development hub for top publishers across the world.

Full Story >>

New Delhi [India], Mar. 29 (ANI): Citizen engagement platform LocalCircles conducted a poll regarding the impact of the Maternity Bill on employment figures among women in SMEs and Startups. The poll registered more than 4300 startups, SMEs and entrepreneurs as participants.

Full Story >>

New Delhi [India], Mar. 29 (ANI): FutureDial, a provider of device processing solutions partnered with Rocking Deals in order to examine and certify the quality of refurbished products that are being sold in the Indian market.

Full Story >>

New Delhi [India], Mar 29 (ANI-NewsVoir): Home Credit, one of the fastest growing NBFCs in India that has completed five years of operations in the country has emerged as the market leader in small ticket size loans.

Full Story >>

New Delhi [India], Mar. 29 (ANI): India's 'star serial entrepreneur' Sandeep Aggarwal announced plans of investing Rs. 20 Crore in up to 12 start-ups by the end of this year, in the areas of healthcare, tech and retail.

Full Story >>