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NEW DELHI: The National Cooperative Consumers’ Federation of India Limited (
NCCF
) on Wednesday initiated ways to address the rising cost of tomatoes in Mumbai’s retail market.
The organisation is buying tomatoes from wholesale markets and offering them to consumers at more affordable prices. The goal of this
market intervention
is to keep retail profit margins at a reasonable level and prevent intermediaries from making excessive gains to intermediaries, and thereby protecting the interests of consumers.
Starting today, tomatoes will be available for purchase at Rs 60 per kg at certain locations. “By this intervention, NCCF seeks to cool off price rises and maintain
price stability
in the market, benefiting consumers and promoting fair trade practices. This intervention demonstrates NCCF’s commitment to protecting
consumer interests
and promoting a stable market ecosystem,” the central agency’s Mumbai-Nashik branch said in a press note.
The National Cooperative Consumers’ Federation (NCCF) has announced plans to expand its retail presence in the near future to improve consumer accessibility. This move comes amidst reports of
tomato prices
surging past Rs 100 per kilogram in retail markets, although prices have recently softened.
Indian consumers continue to grapple with the burden of escalating food prices, as evidenced by the near-doubling of the
food inflation
rate in June compared to the previous year.
Food inflation almost doubled to 8.36 per cent last month, versus 4.63 per cent reported in the in the same month of 2023, official data showed reports ANI.
The retail inflation rates for various food categories, including cement and products, meat and fish, eggs, milk and products, oils and fats, fruits, vegetables, pulses and products, sugar, spices, prepared snacks, and sweets, experienced month-on-month increases.
In June, India’s overall retail inflation rate intensified, deviating from the moderating trend observed in recent months. This shift can be attributed to the upward pressure exerted by rising food prices.
(With inputs from agencies)
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