SOM conducts reality check into this artificial scarcity

Mysore/Mysuru: It is a fact that artificial scarcity is being created in the market with respect to certain essential items including edible oil to create panic among customers and rumours are being spread that their supplies are disrupted and will not be available easily in the market.

Star of Mysore conducted a reality check and it was found that and the scarcity is not real and is the result of incorrect perception. There is no need for consumers to panic about their availability in the market.

When SOM spoke to a few oil traders, it was learnt that earlier stocks of edible oils are being sold in old rates only and new stocks are being sold as per the revised rates.

This clear information was given by the traders of Devaraja Market, Mandi Market, Vani Vilas Market and also at a few supermarkets, in the wake of consumers fear and confusion that oil prices are soaring because of the war between Russia and Ukraine.

“Old edible oil stocks are being sold at old rates. But price of fresh stocks have gone up to Rs.180 per litre on Mar. 8 and on Mar. 9, it shot up to Rs. 182. We are selling as per the revised price. The prices may increase to Rs. 183 and more,” the traders said.

“There is no shortage in supply of edible as of now. Only the supply of 15 litre and 15 kg tins are disrupted. It is natural for people to do panic buying when the prices increase and that’s why more and more consumers and buying edible oil,” a trader opined.

Meanwhile, Jayashree, a housewife, said, “We get less salary which is not enough to purchase monthly groceries. The price for a litre of edible oil was Rs. 135 per litre 15 days ago, but now the price has increased to Rs. 185. How is it possible to lead life if prices of essential commodities skyrocket? Each shop has fixed its own price and selling edible oil. The Government should intervene and help poor people to lead their life.”