Dip in supply surges prices of sugarcane, turmeric at Chennai Koyambedu market

CHENNAI: Ahead of Pongal, 250 trucks of sugarcane and 50-60 vehicles carrying turmeric arrived at the Koyambedu wholesale market around 4 am on Sunday.

Prices of each bunch (10-12) of sugarcane has skyrocketed to Rs 500 due to a dip in arrival compared to the previous year when it was only Rs 400/bunch, which had later reduced further to Rs 100 from Kaanum Pongal onwards. A bunch of turmeric was sold at Rs 60. This has already affected sales on Sunday but traders are expecting it to pick up from today.

“We cannot predict the sale and prices of sugarcane and turmeric on the first day. We’re expecting more loads of sugarcane from today, which would fluctuate the prices accordingly,” pointed out K Ramesh, a vendor at Koyambedu. “On the other hand, most people have left the city for the long Pongal holidays this year. This is concerning, as it could impact our business.”

However, traders are expecting a sizable crowd for the next few days and lament over the lack of adequate police personnel deployed at the market to control the shoppers. With additional vehicles of sugarcane and turmeric expected to arrive from across the State from Monday, vendors urged the government to deploy more cops at the market.

Meanwhile, vegetable prices have reduced at the market due to a surge in supply from Maharashtra, Andhra Pradesh, Karnataka, Tamil Nadu, and Ranchi. Prices are likely to remain stable, which has enthused vendors who have been witnessing a brisk sale for the last few days.

P Sukumaran, treasurer, Koyambedu Wholesale Merchants’ Association, said, “More than 500 vehicles of vegetables arrived at the market. Prices of all vegetables have reduced, except drumstick and shallots that are sold for Rs 100/kg each. After Pongal, this will reduce by 20% as production will increase after first crop cultivation.”