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Prices of essential commodities poised to shoot up

Published: 15th September 2012 01:07 PM  |   Last Updated: 15th September 2012 01:07 PM   |  A+A-

The prices of all the essential commodities too are set to shoot up from next week. Consumers can expect the new prices to pinch their purses when new stock arrives.

 According to the traders at the Begum Bazar main market, there will be a cascading effect on essential commodities like rice, red gram (masoor dal), black gram (urad dal), green gram (moong dal), chana, tamarind, sugar, and vegetables.

 Prices will be even higher at retail markets, as shops which purchase from wholesale traders, sell goods at higher rates.

 “As of now we have old stock, so I am selling them at normal prices. But once the new stock arrives, there will definitely be an increase by at least Rs 2 - 3 in every commodity,” owner of Maharaja store Dhan Kishore said.

 He added that prices usually fluctuate in the market, and over the past few months have increased consistently.

 “Compared to last month, prices of all commodities are higher by Re 1 on an average. Depending on transport cost, and availability/ scarcity, prices will be fixed,” he mentioned.

 Karan Ojha, a rice trader who ordered new stocks on Friday had to shell out more for the stock.

 “Increase is inevitable. There is always a direct impact on food items whenever diesel prices increase,” owner of Ram Trading Co, Karan said. “Ther e should be an increase by a little more than five percent this time. Except for oil, which is transported from nearby areas, other commodities will definitely become more expensive,” added Kishore.

“Apart from the food items, we will also have to bear more expenses due to the cap on subsidized LPG cylinders,” Sharifa Siddiqui, a resident of Marredpally said.

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