Price of beans dips to Rs 70 per kg due to supply surge
CHENNAI: In wholesale markets, the price of beans has come down to Rs 70 per kg from Rs 120 per kg on Sunday.
The traders opined that the rates are likely to decrease further as the second round of crop cultivation has commenced and the production might increase in the coming days. It is to be noted that the market received 800 to 900 sacks of beans against the 500 sacks for the last two months.
P Sukumaran, treasurer, of Koyambedu Wholesale Merchants’ Association explained, “The price of Beans reached an all-time high in May when it was sold for Rs 250 per kg at the wholesale market. It increased by 10 percent in retail shops. The crops were damaged due to excess heat and unseasonal rainfall in the neighbouring states, and led to a drastic drop in supply.”
One kg of beans was sold at Rs 170 at Koyambedu Market on Friday and the rate gradually reduced to Rs 120 per kg on Saturday. It further went down to Rs 70 per kg because the market received 800 to 900 sacks of beans. The retail vendors sell beans for Rs 80 to 90 per kg in the city.
“The abnormal surge in beans price did not impact the traders and customers as there are various alternatives for the vegetable,” added Sukumaran.
Meanwhile, the prices of other vegetables including onions, tomatoes, and potatoes remain stable for over a week due to steady supply from Karnataka, Andhra Pradesh, and Tamil Nadu.
At present, onions are sold for Rs 36 per kg, tomatoes 60 per kg, potatoes Rs 40 per kg, carrots Rs 60 per kg, beetroot Rs 75 per kg, and broad beans Rs 60 per kg.