Short supply spirals beans price in city

The Tamil New Year has had a bullish effect on the prices of some vegetables in the city’s markets.

Published: 15th April 2013 08:32 AM  |   Last Updated: 15th April 2013 08:32 AM   |  A+A-


The Tamil New Year has had a bullish effect on the prices of some vegetables in the city’s markets. Even as vegetables more prone to price hikes like onions, potatoes and tomatoes remained stable, a fall in incoming stocks at the wholesale vegetable market in Koyambedu meant green vegetables like the various varieties of beans shot up.

Beans, which were selling between Rs 60 and Rs 80 a kg even three days ago, jumped by a whopping 50 per cent. While a vast number of shops did not even have stocks of beans, the ones that did have them sold them anywhere between Rs 80 and Rs 120 a kg on Saturday and Sunday.

“This Tamil New Year, there is hardly any stock of beans, string beans and other similar vegetables at the Koyambedu market. So, we had to buy it at higher price and, naturally, sell it at higher rates,” said a vegetable vendor in Mogappair.

Wholesale merchants  say this hike should not raise fears of another round of wrenching price rise. “We witness this trend during and just after all major festivals. Since we don’t have any incoming stock, the retail price of whatever is available also shoots up. But this is a short term hike and will quickly settle back into the pre-festival rate,” said Mahalingam, a wholesale merchant at Koyambedu. “My stocks got over on Saturday morning, and there was no sign that any more would come in. So, I have been comfortably lazing around at home. It is back to business on Monday,” he added.

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