Supply glut brings down jasmine price, catches traders by surprise

The market did not receive enough quantity of jasmine for the past three months from November due to weather changes. Even wholesale dealers were finding it difficult to buy 100 kg of the flower. As a result, the price of jasmine skyrocketed and was sold between Rs 900 and Rs 1,200 per kg.

“On Sunday, we received 3 tonnes of jasmine, resulting in the flower being sold for Rs 240 to Rs 300 per kg. We are expecting the price to decrease further from next week and it is likely to come down to Rs 120 per kg. Also, as there is no wedding season, the demand has reduced considerably in the market,” said S Mookaiya, secretary, Koyambedu Malar Podhu Vyabarigal Sangam.

Other flowers have also seen a fall in the prices. Pink jasmine is being sold for Rs 180 – Rs 200 per kg, tuberose Rs 60 – Rs 75 per kg, damask rose Rs 70 – Rs 80, and rose Rs 80 – Rs 100 per kg.

The prices of vegetables, too, began reducing two weeks ago. On Sunday, the price was less than usual as the market started receiving more vegetables, said P Sukumaran, secretary, Koyambedu Wholesale Merchants’ Association.

Currently, onions are being sold for Rs 15 – Rs 30 per kg, tomato for Rs 15 per kg, beans Rs 15 – Rs 20 per kg, carrot Rs 20 – Rs 25 per kg, cabbage Rs 8 – Rs 10, radish Rs 10, and beetroot for Rs 8 – Rs 10 per kg. The prices of fruits have remained stable for a week.