Inside Financial Markets

Vegetables become pricey

The prices of almost all vegetables — barring potatoes — have surged by Rs30-40 per kg in the last two to three days as Eidul Azha nears.

Pushing up prices of greens has become an annual ritual ahead of Eid while the regulators seem helpless in taking notice of the sharp price increase.

Blaming wholesale price hike, traders said the prices of vegetables may increase further in coming days as trucks, which used to carry greens, are now engaged in transporting sacrificial animals from up country.

Retail price of tomatoes shot up to Rs80 per kg from Rs50-60 per kg while onions are being sold at Rs30 from Rs20-25 per kg a few days ago.

The price of potatoes is pegged at Rs30 per kg while the price of bottle gourd (lokki), bitter gourd (karela) and sponge gourd (turrai) have soared to Rs80 per kg from Rs40-50 per kg few days ago.

Lady finger (bhindi) is selling at Rs120 per kg as compared to Rs80 per kg while price of garlic (whole) has climbed up to Rs320 per kg from Rs280 per kg.

Capsicum (Shimla mirch) price hovers between Rs100-120 per kg as compared to Rs80 per kg while lemon is being sold at Rs150-160 per kg as compared to Rs100-120 per kg. Apple gourd (tinda) is available at Rs120 as compared to Rs80 per kg.

Retailers continue to charge double rates of coriander at Rs10 per bunch but have reduced the quantity by half.

President Falahai Anjuman Wholesale Vegetable Market Super Highway Haji Shahjehan said some vegetables like bitter gourd and lady finger are going off season while other commodities are arriving from other provinces instead from interior Sindh.

Onions and tomatoes are arriving from Balochistan as new crop of these vegetables from Sindh would arrive in the markets next month.

Mr Shahjehan said wholesale prices usually go up very nominally but retailers charge more than double rate depending on the demand and supply situation.

He said most truck owners have shifted their focus towards transportation of sacrificial animals while some transporters are demanding heavy fares for carrying greens to Karachi from up country.

The government should check retailers who demand more than double the wholesale rate despite procuring items at reduced rates, he suggested.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)