The small-time vegetable vendors in the Capital’s residential areas are unlikely to take their regular rounds today as retail trading at the vegetable and fruits markets Delhi was reportedly hit by the demonetisation of currency notes.
Traders at Azadpur mandi — the biggest vegetable and fruit hub in Delhi — said the retail traders could not get stocks of vegetables and fruits as the wholesalers refused to accept Rs 500 and Rs 1,000 notes and lower denomination currency is in short supply at the time.
The Centre announced demonetization of Rs 500 and Rs 1,000 notes starting Tuesday midnight.
“In the morning, it’s generally the small traders who flock the market. On an average they generally purchase vegetables worth Rs 2,000-3,000. Almost nothing has been traded on that front as wholesalers not accepting Rs 500 notes. The situation is expected to remain the same for a few days,” Rajkumar Bhatia, general secretary, Chamber of Azadpur Fruits and Vegetables Association, told HT.
However, traders who deal with bulk stocks remained unaffected as they purchase on credit. “The new rules will certainly delay the money transaction. Currently, it is generally done in a cycle of 10-12 days. It the cycle could get longer,” Bhatia added.