Vegetable prices saw major drop in the wholesale market on Monday, but retailers are refusing to bring down rates.
Traders in the Agriculture Produce Market Complex (APMC) in Vashi said prices dropped by 25% to 30%, as around 650 vehicles arrived in the market on Monday, instead of the normal 450.
With more arrivals expected in the next few months, traders expect prices to fall further.
First the heat and then heavy rain had taken a toll on the production of vegetables, leading to a price rise.
“Despite it being a Monday, when vegetables cost a little more than nor mal, we saw prices drop by at least 25%,” said Ramdas Pawle, a wholesaler.
“If favourable weather continues in Maharashtra and Gujarat, vegetable prices will fall by another 20-25% soon. We are also getting stock from Karnataka,” he added.
However, retailers are adamant and refuse to followed suit.
“It is a rumour that wholesale prices have come down. There may be some nominal change, but the prices of good quality vegetables have not reduced,” said Dharmendra Patel, a retailer.
According to Patel, prices would have to remain constant for a few days before they start to reflect in the retail market.
“We can’t keep changing vegetable rates every day,” he said.
Customers, however, are upset.
“This is an old story. Retailers are quick to raise the rates, but they don’t want to bring them down. With prices of almost all necessities having increased, our household expenses have gone for a complete toss,” said Daniel Massi, a resident of Vashi.