Eid Sales Drop By 50 Percent: KCCI

Srinagar- Markets in Kashmir witnessed only 50 percent sales compared to previous years ahead on Eid-ul-Azha.

Kashmir Chamber of Commerce and Industries (KCCI) president Javid Ahmad said on Wednesday that they do not have a precise percentage of loss but there was a 50 percent decline in sales.

“We cannot be sure about the exact percentage of loss on Eid ul Azha but the difference is more than 50 percent from the previous year. As compared to the previous Eid, Kashmir recorded a minimum of 50 percent loss,” he said.

He cited decline in sales of Kashmir handicrafts market and losses sustained by the horticulture sector last year for the slump on Eid.

He said that inflation in the business across the world is the reason for sluggish business.

“We are sure about the 50 percent of loss because the horticulture sector didn’t get the money as per the market rates last year,” he said.

The chamber president added that horticulture is a big sector worth Rs 9000 crores with thousands of families involved. But fruit growers did not meet their demands.”

He also said that the handicraft sector saw slump in turnover from Rs 2500crore to 500-600 crore.

“If we talk about tourism, it is going well, but it cannot heal the loss all alone,” he said.

Tenga said that KCCI was optimistic to get better sales and market in the coming months. “We have given all the suggestions to the government.  Till the time our demands are fulfilled, we are doing all that we can to overcome the loss,” he said.

In the meantime, prominent industrialists, Shakeel Qalander said that the inflation on essential item and low earnings of business communities were some of the major reasons for low business this Eid.

He also agreed that it was more than 50 percent of loss in business on Eid.

Mutton Sales Dip

Meanwhile according to Merajudin, General Secretary of Mutton Dealers Kashmir the current market condition was not favorable.

“While the years 2019 to 2021 witnessed a subdued market due to the COVID-19 trauma, the year 2022 brought a glimmer of hope. However, the current year has presented a different story, with market conditions far from ideal. Both supply and demand have been affected, resulting in a decline in market flow,” he said. “Compared to previous years, the market flow is declining, and we cannot provide accurate supply data as we are catering to the demands of the market. Our stock includes various varieties such as Kaju Wala, Desi, Marwar, Haryanvi, Gujarati, and others.”

According to our preference, we source stock from outside states as the local stock has not been adequately nourished, considering the season for full readiness of the livestock has not yet arrived, Din said.

On the current market situation and estimated data of stock sold, he said that people are still purchasing stock, and the exact data can only be determined after Eid. We collect data from all around and then compare the daily figures to reveal the accurate numbers after Eid, he said.

The livestock sellers at Srinagar’s famous Eidgah Ground also say that the market is “very sluggish, similar to last year when the market was also slow”.

Ten to fifteen days ago, the market was bustling with crowds, but this year, there is a low footfall here at Eidgah, Noor Mohammad, a local livestock seller, said, adding that the prices are reasonable, but the number of people is significantly less.

“The prices are almost the same everywhere, but there is a difference in breed. Some prefer local livestock while others prefer those from outside. Sheep and goats also have varying prices depending on their breed,” he said.

Talking about the prices, another livestock seller said a goat costs around 320 to 330 rupees per kilogram, while a sheep costs between Rs 400 and 450/kg. It mainly depends upon the breed, he informed. -KNO

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