Prices of flowers surge, veggies dip at Koyambedu

CHENNAI: Ahead of Deepavali on Saturday, business was booming at the flower market at Koyambedu wholesale market. Flower prices increased drastically due to festival demand.

On the other hand, sales dipped at the vegetable market with the wholesale rates plummeting by 20%. But this was only for a week because after the festival season, prices will bounce back with normal supply,” said Koyambedu traders.

Sales have been hit by rain during early morning hours, which is the peak time for sales at the market.

Though the supply was as per regular standards, due to demand for flowers, prices doubled. “We expected the cost of flowers to be cheap at the wholesale market during this Deepavali, but it has increased when compared to last week. Retailers in nearby shops sell flowers at 20% higher prices, even when the flowers do not seem to be fresh,” said K Pangujam, a resident of RA Puram.

Traders are worried that sales might dip in the next two days due to the eclipse date and nombu falling on the same day. S Mookandi, secretary, Koyambedu Flower Merchants Association, said, “After a long gap, the market has witnessed brisk sales for the past two days. But it’d fall if people don’t celebrate nonbu on Tuesday. After Deepavali, prices are expected to decrease, and will surge when the Sabarimala season begins.”

“From next week, though there’s a steady supply inflow of vegetables, prices are expected to surge or remain stable as the festival season ends. Except tomatoes, rates of other commodities have come down,” pointed out P Sukumaran, secretary, Koyambedu Wholesale Market Merchants.