NCCF Steps In to Lower Tomato Prices in Mumbai
The National Cooperative Consumers’ Federation of India Limited (NCCF) has initiated a market intervention to stabilize the soaring tomato prices in Mumbai. NCCF, a central government agency, is procuring tomatoes from wholesale markets and selling them at Rs 60 per kilogram at various locations including NCCF office, Chinchpokli/Lower Parel, Sion Circle, Worli Naka, and Ashokvan, Borivali East.
This intervention aims to ensure reasonable profit margins at the retail level, preventing windfall gains to intermediaries, and protecting consumer interests. The central agency’s Mumbai-Nashik branch stated, “By this intervention, NCCF seeks to cool off price rises and maintain price stability in the market, benefiting consumers and promoting fair trade practices.”
Union Food and Public Distribution Minister Pralhad Joshi mentioned that the government has a Price Stabilisation Fund (PSF) mechanism to stabilize rising food prices. However, in this case, PSF was not utilized as tomatoes were directly procured from mandis. He added that this initiative will ease tomato prices, stabilize the market, and provide tomatoes at a subsidized rate to consumers.
In Delhi NCR, tomatoes are being sold at various metro stations and markets including Rajiv Chowk Metro, Patel Chowk Metro, Nehru Place, and others. Rising food prices have been a concern for Indian consumers, with food inflation almost doubling year-on-year in June.
Doubts Revealed
NCCF -: NCCF stands for National Cooperative Consumers’ Federation of India Limited. It is an organization that helps in distributing goods to consumers at fair prices.
Tomato Prices -: Tomato prices refer to the cost of buying tomatoes. Sometimes, these prices can go very high, making it hard for people to afford them.
Mumbai -: Mumbai is a big city in India. It is known for being very busy and having a lot of people.
Rs 60 per kilogram -: Rs 60 per kilogram means that one kilogram of tomatoes is being sold for 60 Indian Rupees. This is a way to measure and price the tomatoes.
Union Minister Pralhad Joshi -: Pralhad Joshi is a government official in India. He is responsible for making important decisions and announcements.
Price Stabilisation Fund -: The Price Stabilisation Fund is money set aside by the government to help keep prices of important items stable. It was not used in this case because tomatoes were bought directly from markets.
Mandis -: Mandis are markets where farmers sell their produce, like vegetables and fruits. These are important places for buying and selling food items.
Intermediaries -: Intermediaries are people or businesses that buy goods from producers and sell them to consumers. Sometimes, they can make prices higher to earn more profit.
