Pettah businessmen thrive during Avurudu

The Sinhala Hindu New Year festive season in April is the most thriving season for businesses and from mid-March, Pettah, the business hub of Colombo, was bustling with customers from all corners of the country.The Pettah wholesale market supplies most of the commodities and retail trade on the pavements of the business areas attracts customers due to its low priced goods.

Wholesale traders in Fourth Cross Street said that all dry food stocks were available and prices of some items had dropped with increase in supply.

"Prices are a little high and there is no exceptional increase in demand this year," said J. Govin of Tesco Traders.

Rice prices were high and the wholesale prices of Nadu and Samba were over Rs. 80 per kg against the controlled price of Rs. 60 per kg and 70 per kg.

Price of white Kekulu is over Rs. 70 per kg. The controlled price was abandoned after the paddy purchasing price was increased by the government.

T.M. Ramachandr, a trader said that the government should intervene to control the price as intermediaries manipulate prices.Plantains is an essential item on the New Year dinning table.

With increased demand plantain prices have increased sharply. A trader, S. Weerasingham, said that last week the price of sour plantains, the variety with the highest demand, had increased to Rs. 40 per kg, an increase of over 100 percent compared to the previous week's prices.

"We are compelled to sell them at any price during the last days of the week because this perishable commodity cannot be stored until businesses revives after the New Year holidays," he said.

The wholesale price of a coconut was relatively high at around Rs. 40-45 and traders said that prices will not increase further as demand from Colombo consumers declines during the New Year season.

All hotels and restaurants will be closed during the festival days. As most people in Colombo are from other areas, the city will be deserted on New Year's day. Business will resume on April 19 or later, they said.The demand for meat and eggs too increased during the festival season and Manning Market traders said that sufficient stocks were available.

Chairman, Manning Market Poultry Traders Association, I.M. Iqbal said that there has been no exceptional increase in demand.

"Trading in this market has completely changed and we have a few regular customers who live around this area.

Most of our previous customers have now shifted to supermarkets," he said.

Since the price of chicken is controlled, prices do not fluctuate.

But egg prices have come down in the Pettah market and traders expect a further drop in coming weeks.

The wholesale price of vegetables was low due to over supply.

However, the retail price was over 100 percent higher than the wholesale price and consumers said that price is too much and unaffordable.

Traders said that sufficient stocks of dry food were available for the festival season but prices are high. A dry fish trader, N. Nagimudheen, said that prices have increased and sales were low.

Last week Second Cross Street was bustling with New Year shoppers and textiles and ready made garments trade was thriving. Traders said that business was good but relatively low compared to last year.

People said that prices were not too high. R. Rathnayake of Kottawa said that whatever the price he had to buy some items every year to be given as gifts to relatives.

Sari traders said that business was good and sales were high from the end of March. Wholesale traders from regional towns buy textiles from early March and now the retail buyers were here, they said. A street vendor Rathnasiri Dissanayake who specialises in curtain material said that business was good as last year.

"We offer the lowest price and the quality is good and, therefore, we always have business", he said.

The World Market in Pettah had been famous for ready made garments and had a glorious past. However, today the market is not an attractive place for shoppers. Even during this festive season the market is calm and there are only a few customers.

The traders have recognised the reasons for the downturn of the World Market.

According to a leather products trader, Mohomad Shaffeek, shopping malls have attracted most of the customers. The trading practice in the market is the main reason for customers avoiding it. Most traders do not display prices and there is no freedom of choice for customers.

"We have high quality products and you can buy them at the most reasonable price, probably at the lowest price here.

"But our market is limited to regular customers. People have doubt regarding quality and price because of the method of trading," Shaffeek said.

Traders at the World Market said that business was going on as usual and there is no significant boom due to the festive season.

- GW