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Demonetization effect: Demand, supply nosedive in APMC market - The News
Posted
November 16, 2016
Views
977
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6
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November 16, 2016
977
6
0.61%
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5:48Now PlayingIn APMC market in Vashi, Navi Mumbai, the biggest takeaway is that fruit and vegetable prices are not impacted after demonetization. But, traders are staring at low supplies and dwindling demand. With hardly any cash in hand, the farmer is unable to reach the market to sell produce. Meanwhile, the retailer is buying less because customer demand has dropped.
The scenario is completely grim in the wholesale market, which supplies fruits and vegetables to the rest of Mumbai. The vendors were expecting 400 vehicles of vegetables, out of which 200 had turned up. Only 151 out of the total 200 vehicles of fruits had turned up on Tuesday. According to the whole sellers, the demand have seen a drop by almost 40%, whereas, supply from farmers have dropped by 20%.
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