Online trade affects spice marts at Rajkot

The online trade aggression from commodity exchanges across the country plugged with export of foodgrains has by and large affected the spice marts in Rajkot.

The prices of commodities to be stored throughout the year have flared marginally by 45 to 50 per cent over the previous year rates.

There are atleast seven such spice markets establishing in the open party plots of the city.

With estimated turnover of Rs 15 crore, these spice marts are turning out to be hotspot marketing dens for the buyers "� as customers get single spot facilities here.

Despite of no VAT implemented on the commodities, the prices this year are high, especially of cereals and wheat.

Last year wheat was tagged at Rs 180 to 200 per 20 kg, but this year wheat prices range between Rs 200 to 300 per 20 kg.

The rates of cereals this year are also flaring, like moong and urad costed Rs 30-32 per kg last year which increased to Rs 50 per kg this year, chana priced at Rs 35 per kg last year but this year its Rs 45 per kg.

However, explaining the reason of such a huge variation and price difference in comparison to the last year, Viren Jobanputra, stall owner at Umiyaji masala market said, "On an average, the ranges of spices are stable like jeera ranges somewhere between Rs 60-95 per kg, while turmeric ranges somewhere between Rs 30-65 per kg and chillies are mainly ranging between Rs 35-90 per kg."

However, cereals and food grains are marginally costly because of two major reasons, one is online trade aggression from commodity brokers and secondly the exports of these food grains, said Jobanputra.