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Coronavirus outbreak: Covid-19 fears impact rajma, cotton

Rajma traders said about 250-275 inbound containers of 24 tonnes each are kept on hold at Chinese ports while another 100 containers are held at Nhava Sheva and Mundra ports for phytosanitary inspection to ensure there are no harmful organisms before they are allowed entry.

, ET Bureau|
Last Updated: Feb 22, 2020, 08.12 AM IST
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Traders expect rajma prices to remain bullish in the short term, said a rajma importer.
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NEW DELHI: Wholesale prices of rajma have spiked about 12% in the last 10 days while cotton prices have dropped 3% as shipments of commodities to and from China have come to a halt due to fears over the novel coronavirus outbreak, traders said.

Buffalo meat exporters who ship consignments to China mostly via Vietnam and the Philippines also said they were uncertain on future orders.

Rajma traders said about 250-275 inbound containers of 24 tonnes each are kept on hold at Chinese ports while another 100 containers are held at Nhava Sheva and Mundra ports for phytosanitary inspection to ensure there are no harmful organisms before they are allowed entry.

“In the past 10 days, prices in wholesale have moved from Rs 80-81 a kg to Rs 90-92 a kg, due to disruption in the supply chain,” said Pradeep Kumar Runwal of Bherulal Radheshyam Bhandari, a rajma importer based at Naya Bazaar, New Delhi. “We are in touch with our suppliers in China who said transportation is at a standstill and there is no timeframe set for the markets to open.”

Traders expect rajma prices to remain bullish in the short term, Runwal said.
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Importers and traders said that even as few offices have opened in most parts of China, several shipping firms have not started operations and several major markets across the country remain closed due to the deadly coronavirus disease (Covid-19) that has impacted over 62,000 people and claimed at least 2,200 lives, mostly in China’s Hubei province.

Cotton prices have slid because cotton and cotton yarn shipments are at a standstill, traders said.

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