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regular-article-logo Monday, 06 May 2024

Cyclone Yaas: Panic buying sends food prices soaring in city

According to several market observers, retail markets witnessed a much higher footfall this Monday morning compared to other Mondays

Kinsuk Basu Calcutta Published 25.05.21, 01:51 AM
Vegetables being sold at the Maniktala market on Monday morning.

Vegetables being sold at the Maniktala market on Monday morning. Picture by Bishwarup Dutta

Beans sold for Rs 150 a kilo at a city market on Monday. About a week back, the price was Rs 75-80.

Katla (big) sold for Rs 550 a kilo on Monday. Around a week ago, the price was Rs 400 a kilo.

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Several markets across the city witnessed spiraling prices of vegetables, fish and other items on Monday when people rushed to stock up for the next few days apprehending that Cyclone Yaas could disrupt their life.

In parts of Gariahat, Lake Market, Behala, Maniktala, Sealdah and Kasba, retailers tried to make the most of the panic that seemed to have set in among buyers, most of whom were not sure whether they could visit markets on Tuesday because of the weather.

“I wanted to stock up for the next three to four days. I chose Monday because I wasn’t sure whether I would be able to visit the market on Tuesday, when it might rain heavily,” said Sujoy Mukherjee, a Kasba resident.

Several market observers said retail markets witnessed a much higher footfall this Monday morning compared to other Mondays, when markets usually remain timid after Sunday’s buying.

“The footfall around 8.30am at the Gariahat market was not something we have witnessed in recent times (since the Covid curbs came into force),” said Subol Chandra Das, a vegetable seller. “Everyone, buyers and sellers, seemed to be uncertain about the impending cyclone.”

Retailers did not visit wholesale markets on Monday, choosing to wait and watch how things played out. Most of them sold off their stocks from Sunday and made quick money because customers did not bargain.

“Day before yesterday I had bought eggs for Rs 6 a piece. They sold it for Rs 7 per piece on Monday. No one stopped to ask why the hike?” said Gaurab Bhattacharya, an eatery shopowner in Phoolbagan. “From Rs 70 for a dozen eggs, today I paid Rs 80.”

Wholesalers in Koley Market and in Sealdah’s egg market said there was no reason to panic. They said a section of retailers was trying to use the panic to make some quick money.

“Barring beans, capsicum and few other items that are now being brought in from other states, Bengal has enough stock of vegetables. The farmers in the haats were selling their produce at throwaway prices because there aren’t enough buyers,” said Kamal Dey of the Koley Market Vendors Association. “There is no reason to worry unless the fields get inundated and the water doesn’t get drained out.”

The prices of fruits, however, dropped across markets as retailers were not sure whether they would be able to sell on Tuesday.

At Kasba apples sold for Rs 230 a kilo. Two days back, they were Rs 250 a kilo at the same market.

A retailer said that since fruits were perishable items, they wanted to sell all available stocks with them. “We may not be able to come on Tuesday and Wednesday. If things do not improve we may not be able to come even on Thursday,” a fruit seller was heard telling a customer at the market.

“Many of the fruits would perish by then. So we are selling off the stocks at a reduced profit margin.”

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