The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

Fruits, vegetable traders on verge of closing shops, dues unpaid since March

Fruits, vegetable traders on verge of closing shops, dues unpaid since March
Fruits, vegetable traders on verge of closing shops, dues unpaid since March
Traders are waiting for payments adding up to more than Rs 3,000 crore from hotels, restaurants, shops and street vendors.

Synopsis

Traders said they have now reduced the credit period for these buyers beginning June. Earlier, the credit cycle was three to six months, which has now been brought down to one month. We are hoping to recover the payments in the next five to six months, said Azadpur Chamber of Fruits and Vegetables Association president.

New Delhi: Hotels, restaurants and shops have not paid traders in Delhi and Mumbai Rs 5,500-6,000 crore for fruit and vegetables, pushing some wholesalers to the verge of closing their businesses, trade bodies said.In Delhi, traders are waiting for payments adding up to more than Rs 3,000 crore from hotels, restaurants, shops and street vendors, which account for 35% of the buyers, said Anil Malhotra, a member of the Azadpur mandi.“Some of the
Share This Article
  • GIFT ARTICLE
  • FONT SIZE
  • SAVE
  • COMMENT

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Why ?

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • Access the exclusive Economic Times stories, Editorial and Expert opinion

  • Clean experience with
    Minimal Ads
  • Comment & Engage with ET Prime community
  • Exclusive invites to Virtual Events with Industry Leaders
  • A trusted team of Journalists & Analysts who can best filter signal from noise
The Economic Times