Prices of spices, pulses down as supply outstrips demand

Chennai: Good news for those who love spicy food and pulses. In contrast to the escalating price of other agricultural produce due to drought and low yield, rates of spices and pulses in the city has fallen by at least 10 per cent in the last two months.

According to Broadway wholesale market sources, supply of pulses and spices has surpassed market demand forcing traders to reduce their margin this season.

Black pepper, a sought-after spice from Kerala, was selling close to Rs 800 a couple of months ago. The price now has plummeted to Rs 550 per kg.

Prices of mustard seeds and fenugreek seeds have also declined from Rs 58 to Rs 48 and Rs 54 to Rs 50. Red chillies (long) have also moved down from Rs 75 to Rs 65, traders said.

If the trend continues monthly provisions bill will come down further as the pulses have also declined in wholesale price. Toor Dal, selling at Rs 180, has fallen to Rs 70 per kg. Urad Dal, selling at Rs 140, has declined to Rs 90. Split Bengal Gram now sells at Rs 75, down from Rs 140, Broadway traders told DC.

“The only exception where the price of a commodity has gone up is that of round red chillies, where the rate has increased from Rs 350 to Rs 400 as there has been a shortage in the production of round red chillies in Ramanathapuram district due to drought,” said P.S. Vinayagam, retailer in Choolai.

Manesh T.B, a wholesale dealer in papadum said dal rates compared to the same time last year were Rs 18,000 for 100 kg whereas this summer it has come down to around Rs 9,500 for 100 kg.

Rebecca P, a homemaker,  said rates have never fallen to this level in a long time. However, she felt the rates of the spices were usual and there was no impact, as households do not buy spices in large quantities.

Traders said prices of commodities will slowly move upwards in the coming months. “Usually, sales decline during summer and will pick up in July when the monsoon sets in,” said V.K. Prakash, retailer in Otteri, North Chennai.