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Price of Basmati rice, edible oils & pulses increase ahead of festive season

Updated Oct 6, 2021
Prices of basmati rice, edible oils, and pulses are skyrocketing as the festive season approaches, putting a damper on consumer. The basmati and pulse crops have been harmed by dry spells in August followed by heavy rains in September. The wholesale price of the 1509 basmati rice variety used in biryani increased by 36% compared to the previous festive season. Rains have damaged the quality of pulses, and certain kinds of pulses have seen price increases ranging from 10% to 12%. However, edible oil costs have decreased by Rs.10 per litre in the last two months, but there is no chance of additional price reductions in the short term since worldwide prices remain high. However, traders believe that the price increase will have little effect on consumer demand for these essential commodities because consumer sentiment is positive. There is a lot of unmet demand in the market, and with covid cases decreasing and vaccination rates increasing, consumer purchases are on the rise. “Most ...
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