Just when the prices of tomatoes started to come down in markets, providing some relief to consumers, the price of the humble banana has now skyrocketed, breaching the ₹100 per kg-mark. With the harvest season coming to an end and festive season approaching, the demand has exceeded supply, leading to the price rise.
Merchants said that the prices are expected to go north further a few days before the Varamahalakshmi festival, which falls on August 25. Currently, at wholesale markets, the price of 1 kg of Yelakki banana is at ₹90 while at retail markets, it is being sold at ₹115-120 per kg. Similarly, the Robusta variety banana is ₹25-30 per kg at wholesale markets and retailers are selling it at around ₹50-60 per kg.
“A chain of festivals is ahead of us, and the supply has taken a hit. In the last 10 days, we have seen that the prices have climbed upwards gradually from around ₹70 to ₹85-90 now. Until the festivals are done, the prices will not come down,” said Ayyub, a trader at the Binny Mill Banana Market.
On the other hand, consumers expressed their disappointment about the prices as bananas are almost like a staple fruit in most households. “While many varieties of fruits are bought only occasionally or during festivals, bananas are something we consume throughout the year, usually after a meal. This price rise has become a recurring phenomenon now every year during the festive season. Something should be done to regulate the prices in the market,” said Rajeshwari S.L., a resident of Chikkalasandra.
Merchants said that it is necessary to sell bananas at this price to make up for the supply crunch, variations which happen during commute, as well as quality concerns.
“When compared to last year, arrivals to the wholesale markets have gone down by 70% this time as many now choose to do farm-to-store deliveries. As it is also the end of the banana season, only small fruits are coming to the markets. Quality is a major concern too. Whoever has good quality bananas are selling to the retail stores they have tie ups with,” said K.G. Purushotham, president of Banana Fruits Merchants Association.
He added, “Bananas have to be sold at a higher rate as there will be a 10% variation in local stocks and 15-20% variation in stock that comes from other States. The variation refers to the difference in the weight of the fruit between the time it is harvested and loaded to vehicles (it will be heavier) and by the time they are ripened and sold at markets.”
The old Mysuru region comprising Chamarajanagar, Kollegal, Gundlupet, T. Narasipur and Kanakpura, along with some places in Tamil Nadu are the leading suppliers of bananas to the Binny Mill Banana market currently. Guessing that some farmers might have saved their best stock for the festival, Mr. Purushotham said that the arrivals might increase by the next week. “However, demand will be equally higher, and it is unlikely that the prices will go down,” he said.
