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Friday, September 20, 2024

Market Activity Amid Water Crisis During Festive Season

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The city’s markets are bustling with preparations, even as the specter of a water crisis and soaring temperatures casts a shadow over proceedings.

With Ugadi celebrated on Tuesday and Eid-ul-Fitr following on either Thursday or Friday, depending on the moon sighting, marketplaces are witnessing a surge in activity. However, the water scarcity and rising temperatures are impacting prices and disrupting supply chains.

At Bengaluru’s KR Market, vendors report a significant spike in flower prices, with jasmine, a festival favorite, seeing its price double from Rs 300 to Rs 600 per kilogram. Similarly, rose prices have surged from Rs 100 to Rs 200 per kilogram. The lower yield due to water scarcity and the heatwave are cited as contributing factors to this volatility in prices.

Meanwhile, prices for paan leaves and seeds have seen a surge, jumping from Rs 45 to 100 and Rs 800 to 1,200 per kilogram, respectively. The demand for meat, particularly mutton and sacrificial goats ahead of Eid, has also surged, leading to price hikes.

The clothing sector is experiencing a boom in demand for traditional wear, especially saris, embroidery, crystal work, and Mysore silk, according to Vijayshekhar Ravi Deepam, president of Bangalore Trades Association. However, the blistering heat is deterring footfall during the afternoon hours, prompting shops to offer amenities like air conditioning and buttermilk to attract customers.

Despite the festive fervor, concerns persist about potential disruptions in the supply chain following Eid, as vendors anticipate further price hikes and logistical challenges.

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