Traders are feeling the pinch as buyers are hesitant to purchase sacrificial animals for the upcoming Eid al-Adha due to skyrocketing prices in Srinagar’s livestock market. Ashiq Mohammad, a seasoned trader from Rajasthan, has been coming to the market for five years now, typically selling his livestock within days. However, this year is different; Mohammad and other traders are playing a waiting game as buyers have been staying away.
According to Mohammad, people used to be fond of buying sacrificial animals for Eid al-Adha, but the prices have soared, making it difficult for people to afford them. This phenomenon has left traders in a tough spot, having invested heavily in their animals, but with no buyers in sight. With the religious holiday quickly approaching, it is uncertain if the market will pick up, and this has left many traders with mounting concerns.
The COVID-19 pandemic has further compounded problems in the market, as not only have people refrained from going out, but several restrictions have been imposed on large gatherings. Amidst all these challenges, the festive spirit in Srinagar has been quite dampened this year.
With traders and buyers both struggling in the market, it remains to be seen if prices will stabilize in time for the holiday. Indeed, the wait-and-watch approach taken by buyers is indicative of the serious impact this has on the local market. As such, the entire community is facing a difficult time, with many livelihoods at stake.
Undoubtedly, this situation calls for a balanced solution that benefits all parties involved. As such, authorities must consider measures to ensure that livestock prices become affordable for buyers, while simultaneously safeguarding the welfare of the traders. The Srinagar market has long been a hub of trade and commerce, and it is essential that its vibrancy is retained despite the challenges posed.
