MUMBAI (Commodity Online): The festival season in India will begin next month: holy month of Ramadan in August followed by Hindu Ganesh festival, Diwali and the Durga festival. But the season in India may prove to be costly due to erratic rainfalls across the country pushing up the prices of staple varieties.
The prices of pulses and edible oil may see further rise; the spot price of chana and chickpea-- most consumed pulses in India--has risen by 24% in the past two months, according to a Reuters report.
Mean while the prices of other pulses like tur, urad and moong have also risen at a rate exceeding 10 percent.
When it comes to sugar, every year, the price of the commodity goes high on rising demand .This year the price may rise even higher as the government has allowed export of 500,000 tons of sugar.
The price rise in vegetables is making the budget of mid class and low class families unstable. Onion is the main ingredient in Indian food; the average price of which has risen by 55% in two months. The vegetable price increase is attributed to lack of enough stock and increase in demand.
Meanwhile, the price of rice has increased by 8% even as wheat price has changed little on robust stocks.
