Koyambedu veg sellers slash prices by 20% to prevent wastage

CHENNAI: The recent intense spell has adversely impacted prices of perishable commodities at the Koyamedu wholesale market by nearly by 40%.

But rates are expected to increase, as there will be a shortage in supply from the neighbouring states if the rain continues. “Despite downpour in Tamil Nadu and Andhra Pradesh recently, we’ve been receiving vegetables. But sales took a hit here because continuous rainfall prevented customers and retail vendors from visiting the market. So now, we’re forced to sell vegetables at a lower price to prevent wastage,” lamented P Sukumaran, secretary of the Koyambedu Wholesale Market Merchants.

Traders said that if rainfall persists, supply will be impacted drastically in the next few days, which can lead to a surge in prices. However, vegetable rates will not increase abnormally like the previous years, as traders have enough stock of onions and tomatoes.

Though the wholesale prices of vegetables dipped, products at retail shops in the city are selling at 10% higher than the usual rates. “Usually, prices surge during rainy season due to lack of supply. Now, vegetables are sold at cheaper rates. If we sell for the same price there won’t be any profit for us,” said K Venkateshan, a retailer at Purasaiwakkam.