Fruits, veggies to empty your wallet

The hike in diesel prices would pinch the middle class but the poor will be the most hit.

Even as traders at the Agriculture Produce Market Committee (APMC) are discussing the strategy to work out the new economics of shifting the monetary pressure on the end consumers, the prices of essential commodities may go up by at least 10% to12%.

Prices of fruits and vegetables are the first target as they are transported to the city daily. These will be followed by the food grains, pulses, tea, coffee, sugar, oil and butter, making your monthly budget heavy on your pocket.

Even if one presumes an increase of Rs2 to Rs5 per commodity, the cost of daily food of an average middle class family will go up by at least Rs500 to Rs600 a month, without counting other commodities such as fruits, dry fruits and milk.

“With the increase in diesel prices, all stakeholders including farmers, traders, transporters and retailers will have to shell out extra, which will naturally percolate down to end users,” said Shankar Pingle, director APMC (vegetable market).

“However, each of them will try to keep the prices in control by lessening their profit margin and also covering their cost,” he added.

Raju Gala from onion and potato market said hike in prices would affect the poor the most.

Apart from rice, wheat and other food grains, other commodities such as sugar, coconut, dry fruits, beetle nuts, spices, garam masala and ayurvedic herbs may also increase.

Arun Bhinde, president of Navi Mumbai Commodity Brokers and Traders’ Welfare Association, said the traders and retailers are not happy with the hike in diesel prices. “Each commodity comes in trucks and will become costly. Even if wholesalers will increase a rupee or two, the increase will be up to 8% to12% when it reaches the consumers,” said Bhinde.