Rate of beans dip to Rs 70 per kg in Chennai; may get even cheaper, say traders
Traders said that the rate is expected to further reduce as the second crop cultivation has commenced and hence, production might increase in the coming days.
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CHENNAI: The price of beans dropped to Rs 70 per kg from Rs 120 per kg at the Koyambedu wholesale market in Chennai on Sunday, after the market received 800 to 900 sacks of beans today when compared to the 500 sacks being supplied daily for the last two months.
Traders said that the rate is expected to further reduce as the second crop cultivation has commenced and hence, production might increase in the coming days.
P Sukumaran, treasurer, Koyambedu Wholesale Merchants' Association explained, "Beans price reached an all-time high rate in May this year when it was sold for Rs 250 per kg at the wholesale market. In retail shops, it had increased by 10 percent. Due to excess heat and unseasonal rainfall in the neighbouring states, the crops were damaged and this led to a drastic drop in supply."
On Friday, a kg of beans sold for Rs 170 per kg at Koyambedu market before dipping to Rs 120 per kg on Saturday. But since the market received 800 to 900 sacks of beans, its rate went down to Rs 70 per kg.
The retail vendors on the other hand sold beans for Rs 80 to 90 per kg in the city today.
Sukumaran observed that the surge in price did not impact traders or consumers much as there are various alternatives to beans.
Meanwhile, the prices of other vegetables including onion, tomato, and potato have remained stable for over a week due to a steady supply from the other districts in the state as well as Karnataka and Andhra Pradesh.
At present, onion is sold at Rs 36 per kg, tomato at 60 per kg, potato at Rs 40 per kg, carrot at Rs 60 per kg, beetroot at Rs 75 per kg, and broad beans at Rs 60 per kg.