Rakhee market down

These are times of economic slowdown. But believe it or not what has slumped the rakhi sales in Delhi is the sweltering monsoon heat! Rakhee is just a two days away, but the continued hot summer is making shoppers give the city a miss and instead procure rakhees directly from Kolkatta, say traders. According to a Sadar Bazaar-based trader Gagan, whole-sale buyers from neighbouring states are not coming to Delhi because of the summer and are directly procuring Rakhees from Kolkata. This has led to a 20-30 per cent fall in the market. Adding to the woes of traders are the high metal prices. Traders say demand for rakhees made of gold and silver have gone down as metal prices have firmed up in recent weeks. However, business is likely to improve in the coming days. "Our business has suddenly gone up in the last 2-3 days. It was down before that," trader Anil Bhai Rakheewala. Rakhees made of herbs, sandal and stones are also doing good business, he added.

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