Hosur : The surplus dispatch of flowers, marigolds and roses in particular from Hosur and Rayakottai markets led to price crash in Chennai Koyambedu market.
Around 30 percent of the stock remained unsold in Chennai flower market on Friday as supply was more than the demand. It may be noted that Hosur flower market is one of the major markets for rose, marigold and cut flowers in Tamil Nadu.
Yellow marigold that sold at Rs 120 a kg a week ago could fetch only Rs 50 to Rs 70 per kg.
As there were not many takers, a few merchants in Chennai flower market dumped wilted marigold in the yard, sources from Koyambedu flower market said.
Chennai Koyambedu Wholesale Flower Merchants Association said the market received around 50 truckloads of marigold and roses as compared to the usual 25 to 30 truckloads.
Also Read : Hosur flower market sees up in prices on Varamahalakshmi Festival
Roses were sold at Rs 80 to Rs 100 a kg as against Rs 140 a kg a few days ago. In the same line, the flower merchants sold varieties of jasmine for a price in the range between Rs 180 and Rs 200 a kg on Friday.
The market sentiments expect the demand to rise from next week as festivals are around the corner.
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