KReseach estimates vegetable prices to double during vegetarian fest

BANGKOK, 14 October 2009 (NNT) – The Kasikorn Research Center (KResearch) has anticipated prices of vegetables to double during the vegetarian festival due to the seasonal price rise, negative effects from flooding and a shortage of vegetables in some areas.

According to the estimation of the KResearch, prices of popular vegetables of the vegetarian festival such as kale, Chinese morning glory and cabbage will double due to many reasons. Many agricultural areas have experienced flooding while vegetable shortages are also reported.

The research center nevertheless forecast that demand of vegetable consumption this year would not decrease compared to last year despite the expensive vegetable prices and fragile economic recovery. Consumers may reduce their purchases for some kinds of vegetables to save cost and buy only as much as they need for consumption.

The KResearch also suggested the government to monitor vegetable prices during the vegetarian festival in order to prevent vegetable traders taking advantage of consumers.