Madras, Oct. 29: A steep rise in the prices of fireworks, coupled with the strain on the pay packet caused by inflationary pressures, threatens to rob Deepavali of much of fun and frolic this year. Children belonging to middle and low-income group families may have to be content with a smaller pack of crackers which cost 50 per cent more than last year.
Though the festival is about two weeks off, there is little evidence of it in the fireworks market in the city. Shops which used to bustle with activity even a month ahead of the festival reported dull business. According to traders’ computations, they may end the season with a shortfall of at least 25 per cent of their sales last year.
The prices of all varieties have gone up and the hike is more pronounced in the case of some popular items. For instance, the wholesale price of “black serpent eggs” has increased from last year’s Rs. 11.75 to Rs. 30 per gross, “mini serpent eggs” from Rs. 6.75 to Rs. 18; colour matches from Rs. 9 to Rs. 17; star matches from Rs. 10 to Rs. 18; caps from Rs. 3.25 to Rs. 5.50; sparklers from Rs. 55 to Rs. 79 and colour sparklers from Rs. 58 to Rs. 87.
A spokesman of a large fireworks company claimed that the prices had been fixed this year allowing a very low profit margin taking into account the economic conditions of the people. He pointed out that the enormous increase in the cost of raw material, wages apart, warranted a still higher price. The cost of copper-coated wire had doubled, the price of chlorate and red phosphorous had gone up by eight times not to speak of the prices of waste paper, a major raw material, and board and printing paper, which had gone up steeply.
Published - October 30, 2024 04:18 am IST