MARKET DEVELOPMENT
Scare Over Imported Food Commodities
Scare Over Imported Food Commodities
02/09/2013 (Times of India) - Better fill your food basket with desi items. The falling rupee has led to a spike in the prices of imported food items which is likely to reflect in retail prices in local shops. Traders who sell imported food commodities such as palm oil, sunflower oil, almonds and pulses say the rise in prices of these items in the last two weeks have been significant. "Though the price of these imported commodities has witnessed a steady increase in the past one year, the impact of the falling rupee on prices has been significant in past two weeks," says A Prabakar, president, Coimbatore Maligai Vyabarigal Sangam.
"The price of a kg of green peas, which was Rs 40 per kg in the wholesale market around the same time last year, has doubled to Rs 80," Prabakar adds. Similarly, white peas price has increased from Rs 30 per kg last year to Rs 45 per kg now. Pulses arrive via V O Chidambaranar Port in Thoothukudi to the city whereas commodities such as almonds, pista, palm oil and sunflower oil arrive at Chennai Port.
P Rajkumar, a member of the association engaged in the trade of imported commodities, says that the price of almonds, pista, dates and oil varieties such as palm oil and sunflower oil has increased significantly during the last few weeks. The price of palm oil imported from Malaysia and Indonesia has risen by Rs 15 (per kg) in the past one month and sunflower oil imported from Russia, Ukraine and America has shown an increase of Rs 12 in the past one month.
Pulses like green peas and white peas are mainly imported from countries like Canada and Australia. According to Prabakar, traders import certain pulse varieties after comparing it with the prices in local market. "We have stopped taking imported yellow split pea locally known as 'vada paruppu' as the price of local product is competitive," he adds. Among other imported commodities that have shown a significant rise in price include almond and pista that are imported from the US. While pista price has increased from Rs 990 to Rs 1,180 for a kg in a month, almond now costs Rs 650 per kg, up from Rs 500 for a kg a month ago.
"The increase in the prices of pulses like green peas and white peas is unbearable and households are forced to forego these nutritious items due to huge price hike," says K Thangavel, a resident of Sowripalayam. First grade dates that are imported from countries like Iran and Iraq has also increased from Rs 150 per kg to Rs 180 per kg in a month. "Usually prices of food commodities increase only when production dips but now for the first time in recent times the falling rupee has led to a rise in the prices of imported commodities," says Rajkumar.
"The price of a kg of green peas, which was Rs 40 per kg in the wholesale market around the same time last year, has doubled to Rs 80," Prabakar adds. Similarly, white peas price has increased from Rs 30 per kg last year to Rs 45 per kg now. Pulses arrive via V O Chidambaranar Port in Thoothukudi to the city whereas commodities such as almonds, pista, palm oil and sunflower oil arrive at Chennai Port.
P Rajkumar, a member of the association engaged in the trade of imported commodities, says that the price of almonds, pista, dates and oil varieties such as palm oil and sunflower oil has increased significantly during the last few weeks. The price of palm oil imported from Malaysia and Indonesia has risen by Rs 15 (per kg) in the past one month and sunflower oil imported from Russia, Ukraine and America has shown an increase of Rs 12 in the past one month.
Pulses like green peas and white peas are mainly imported from countries like Canada and Australia. According to Prabakar, traders import certain pulse varieties after comparing it with the prices in local market. "We have stopped taking imported yellow split pea locally known as 'vada paruppu' as the price of local product is competitive," he adds. Among other imported commodities that have shown a significant rise in price include almond and pista that are imported from the US. While pista price has increased from Rs 990 to Rs 1,180 for a kg in a month, almond now costs Rs 650 per kg, up from Rs 500 for a kg a month ago.
"The increase in the prices of pulses like green peas and white peas is unbearable and households are forced to forego these nutritious items due to huge price hike," says K Thangavel, a resident of Sowripalayam. First grade dates that are imported from countries like Iran and Iraq has also increased from Rs 150 per kg to Rs 180 per kg in a month. "Usually prices of food commodities increase only when production dips but now for the first time in recent times the falling rupee has led to a rise in the prices of imported commodities," says Rajkumar.