Food Prices - eIndia - Someone's laughing all the way to the bank
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by Graf Sprat
Quick update and analysis of food prices in eIndia
At the time of writing this, q1 food in India is being sold at 0.6 INR which means that the cost of 300 wellness for an indian citizen buying q1 food is 90 INR or 0.91 G.
The same 300 wellness (via Q1) in the markets of USA can be bought at .66 G and in Poland at .55 G. In Black market, the value is even lower
So what is the reason for this 67 % higher rate of Q1 food in India over a Poland. Lets do some number crunching
At the time of writing this article, when q1 food is selling at .6 INR, following are some of the other numbers that impact food production
Grain cost = .03 INR
Salary of a Guru** worker producing 100 units of q1 food = 20 INR
Looking at these numbers, it seems that the cost of producing 100 q1 food =
(.03* 6*100) + 20 = 38 INR
Sale price of the same =
.6* 100 = 60 INR
Profit % = 57% 😉
Which by any strech of imagination is extremely high. This also is in line with the comparative prices in other countries like eUSA and ePoland. Some company owners in q2 and q3 segments have their products listed at lower prices, but the quantity is not large enough to cater to the demand.
So the govt is taking the following action to counter this. Unless the prices of food in eIndia come down to a level more in line with international prices, Govt is going to buy large sums of food and create a ceiling price for the q1 food price in eIndia
I hope this is a short lived phenomenon and gets sorted without too much of govt intervention.
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where is sharry now???!!!! : P
Yeah, we need to stabilize this monopoly of Indian cos
i mean we need to curb their monopoly 😒 (yeah, i do suck at english)
Q1 = 0.60 INR, Q2 = 0.75 INR, Q3 = 1.05 INR.
Comparing these 3, the cheapest is Q3 and for 300 health one would have to buy 50 Q3 food which will mean 50 x 1.05 = 52.5 INR and that is 0.53 gold. Now again, I think its our guys using BM to buy and sell.
"werent Company owners crying their hearts out on how they are losing money ????
and now we see 56% profits "
- A wise man once said.
Actually the figure is much higher than 56% if you factor in work as manager angle. Since most of the players selling q1 on the indian market has no employees but only working as manager or at best have 2-3 employees, the average cost comes down much lower than .38 per unit since for a guru** owning a company, and working as manager, cost of making 100 units of food is just .18 INR.. Think about it..
Thats why.. IMPORT TAX SHOULD NOT BE HIGHER THAN 1%
Thankfully the recent changes have now allowed bypassing of this tax and hence the govt can step in to take corrective actions, like I have..
only price of q1 have changed
buy q2 food or above
Yup, q2 and q3 are at par with international prices. And Now Q1 is also getting there
Govt should not interfer
Govt is forced to interfere - you can't loot the buyers.
we were making profits "toh fir govt kya kyu jal raha hai" ..... let the economy go as it is ........
nd Import tax shud be high ....... Hail Sharry ...... 😃
lol who brought my 1000 q1 food yesterday at 0.38 inr
i hope its not the central bank of india
coz in the marketplace i see cbi selling 1000 foods for 0.45inr
a strange coincidence
i hope this is not fake situation brought about to prove a point
@Sharry : lol ..... 😃 😛
Some of the company owners have graciously lowered their prices and some others have removed their high priced offers 😉 . Thanks to both categories for supporting the initiative to lower prices. Lets try to do this without the govt interference going forward
\o/
sharry, can u plz stop the personal attacks - either direct or otherwise
Sharry, your food was listed today at 0.60 which you removed from the market after the CBI put its offer up. Govt is not in the habit of creating fake situations to prove a point. Though I cant say that for all the players in the market with vested interests. CBI still has over 22,000 wellness in government reserves which can be rolled out to control prices as and when needed.
BTW its a nice ploy to divert blame on getting caught with the hand in the cookie jar ...
Shiv, let it be man.. Jiski baat mein dum nahin hota, wohi apni aawaj mein dum lane ki koshish karta hai
lol i sold 1000 at 0.38inr yesterday
dum toh bohat hai issliye toh tum apne point ko prove karne k liye aisa kar rahe ho
bus facts bolta hu toh aap logo ko problem hoti hai
i still believe its a fake situation
and i m not forcing any1 to believe
last nit i placed a offer of 200 q3 foods
n today in the morning it was all gone
and this is not only with foods weps r also getting disappearing
my all the q2 weps were sold too at 4.5
look wats the current price
it is a sudden change in market
even i believe its a fake situation
fact batana alag baat hai... uske saath logon pe special tippani dena - alag
"People quarrel because they can not argue" - Another wise man said
You guys are forgetting that more than once admin bought a lot of products from market to control it. Sharry if tomorrow i sell 1000 Q1 food will you blame me? If you dont want the products to sell, then why put it on market? If you want them to sell, then why question others or use it in a notorious way?
lol shiv when i was selling q5 wepons at 21 inr
and q1 mts at 6 inr
our respectable mof made an issue of it
now why can i make an issue of it 😛
i told what i feel
navin why is that that always the indian company owners are targeted?
no one wrote any articles when they were in losses
then why now when they are gaining some profits to cover previous loss
why is it that the mof mention imports dosnt matter n now tellin imports should be low?
why is import being targeted all the time?
the business an are here to earn profit y the goverment has to interfere???
the business an are here to earn profit y the goverment has to interfere???
the govt has to interfere because they have to look after the common citizens (the buyers) too and not just company owners.
i dont understand what is gov doing
they can interfere on this
then y is the government not looking after salaries in the job market
Business owners are free to make profits as long as they do not cartelize and artificially jack up prices. When people use their influence in congress to try and put restrictive tax barriers so that they can monopolize and make unreal profits at the cost of the consumer, govt can not sit idle and needs to interfere.
Sharry, grow up a little.. I never accused you of anything but just highlighted that now people can sell without owning a company bypassing the import tax giving examples in the market. Never even once said that it was unfair practice.
Here also you have simply assumed that the situation has been created by fake means. Pray tell me on how the govt was able to force you and all your friends to jack up their prices to .6 INR per food??
Yeh to wahi baat hui.. Ulta chor kotwal pe bhonke..
lol cbi brought all the food n u blaming us
bad trick to cover up
why should we buy costly stuffs when we are selling cheaper than that
graf even u should grow up and find a better reason to cover up what u have done
please spend some time in looking at other peoples comment also and answer them if u have any...
Sharry, has he asked the Q1 company owners not to sell their products on market? I guess NO is the answer.. Making an article to bring awareness is not a matter to be questioned.... Besides advise to ppl is also check the prices of food from Q1-Q5 and then decide what to buy...
I will once again stress one pt about imports... If imports are raised further, the margin will be used by our businessmen to cover up their profits and not to help the poor guys buy cheap food.... I have been in eIndia for more than 2 years now and I have seen this happen several times... I was never for IMPORT TAX to INCREASE...
imports
grain 33%
iron 33%
food 8%
grain n food selling very cheap
it would have been a better option if the mof would have waited for sumtym coz prices r gonna fall
plz dnt blame imports
that all i can say
Support for sharry. Its too bad a move admins made towards Q1 companies. The only way they can profit now is if they can utilize the small windows when they can sell products at higher prices. If the govt also goes against them then you are working for the rich higher Q company owners. If you think Q1are exploiting then stop buying Q1 and use Q2 or above. Whats the big deal. Why are you so bent on squeezing the small karket players. And talking about manager working you think all Q1 companies only use their own grain? Who do u think is buying my grain fr .04 inr? May be you should stop accusing and start helping new players in ways govt can. Sorry if there are any spell mistakes iam typing on my phone
Sharry.. Can you prove or show if CBI has bought anything from the market. Did CBI force you and other company owners to list product on the market for .60 INR??
You and some of your friends are trying to cartelize and artificially jack up the prices of food products. When you are getting caught in the act, you are trying to blame the govt for buying cheap from the market. It doesnt get any lamer than that. Karte ho to darte kyoon ho..
And you are blaming me for a cover up ???lol
And what questions are you refering to which you want me to answer..??
Vijay, all valid questions.. But If q1 company owners are poor and cant afford Q5 companies, then consumers without any food company are even poorer.. Dont you think they deserve your support too..??
And who do you think buys a more expensive q1 than a cheaper (per wellness) q3 ..
1. Noobies who are not aware of such details
2. Folks who do not have enough INR to afford a q3
Dont you think govt better protect their interests rather than those of people with 6-7 grain, a couple of Q1 food companies??
think about it
maybe many of them is thinking about how to get more profit now without spend a lot of money....as what shaz say,we need to stabilize the prize....
lol 1st u prove that that i and my frnds cleared all the goods from the market?
now y are u after my frnds when u cant even prove me 😛
u are targeting the imports from when
u write imports are jackshit and now u tell to bring them to 1%
i knew it from the very 1st day that the day when prices rise
u will be the 1st one to speak against the imports
y should i or my frnds clear the market when we know you are ready to pounce and prove your point just like what you are doing
lol.........if some of u guys have problem regarding this price rates of q1 foods then just do one thing.........post a offer of much less value and ur wish wud be fulfilled.
and graf please dont blame on sharry and his friends as m also his friend and we never did such a thing like hoarding the q1 foods...we are all well aware of the condition of eINDIA and we won't do anything that wud demote the conditions of our nation
and also instead of writing and commenting on other's articles n targeting imports plz shout ppl to buy q2 or above foods
@graf : why do u wanna target Q1s anyway. if u really think if u allow imports with low tax then even higher Q companies will be affected too. As for ur arguement with sharry i think u r getting personal after his proposal to reduce import tax went thru.
about the newbies getting effected, i think with the taxes the government collects i think they have a minimum responsibility to give some freebies or give them good salaries in their companies. you really think because food fr 2 wellness is .2 inr costly newbies would leave? if the situation is like sometime back when food was too costly. you should rather consider them having to fight barehanded, for that is where they really think they are falling behind and i dont think you will be happy to distribute weapons.
all in all no 1 man can control prices with so many people now owning Q1 companies. with the competition to sell more products prices will come down. stop worrying........
Guys, am gonna state this once & once only:
1. Keep personal shit out. eIndia has enough challenges without bringing in petty internal squabbles over virtual currency.
2. Govt = me. Please consider that before assuming or implying that CBI or Graf is involved in any foul play, as that would mean I'm either condoing it or am ignorant of what goes down.
3. Govt will ONLY interefere where Citizen welfare is directly bieng affected due to market prices, whatever the factor. And Graf makes it clear in the article, that we hope this situation will resolve itself naturally, without further intervention. It doesnt't serve anyone to undercut prices 'just to prove a point'. The thought that I would allow it is....
4. Chill.
Gopal, Govt does have programs to help newbies with food. The issue isn't about retention, but the general price level. If our prices shoot up and go higher than the global market, shouldn't Govt try to bring prices down (as long as it doesn't cause potential losses).
On a different note, what I don't get is why we can't have an economic debate based on numbers like most people usually do. Every recent debate I see, be it on forum or articles is usually all about who thinks which process is best, half the time without clear cut logic / numbers as to WHY they believe it is so.
This tax debate is by far the most ridiculous debate I've seen in my 2 years in eIndia. Worse than even the party politics. Meh
but still mav how can some one blame us for something we didn't do.........u only say wud we do hoardings of q1 foods??
hey hey chill everyone.........just tell me one thing- in all eIndia who is that one person who is guru** and getting 20 INR as salary....??? Name just one ......everyone wants higher salary abt 27-28 INR or so...and the thing abt 56 %profit lets take and example of my company....
Workers-3 Skill-11, 10 and 9
Total salary-80 INR
Total goods produced-283
Total grains required-283*6= 1698=84.9 INR
Therefore total expenses-80+84.9 INR = 164.9 INR
Total money earned= 283*0.35=99.05 INR
Loss= 65 INR
From which angle it is 56% profit....??
and yes this is nt cooked up...this is my real statement.
I know this is my ratio ....it may vary from company to company....but solve my problem......
Prabal, I know all you guys, & firmly believe none of us would do anything to undermine eIndia's progress.
That being said, can you tell me where exactly is it said that you or anyone is hoarding Q1 food? Sorry my knowhow of economics is really shit, but if I'm not mistaken, then Graf simply states (in the article) based on his numbers that the prices of Q1 food have gone up unreasonably high - thus affecting Citizen welfare.
Sharry is implying its a fake scenario of CBI hoarding the food stock, which I can state unequivocally, is not the case.
Dragging import taxes into the scenario is of no use atm, unless we observe the effects over a few more days.
mavo i dnt know abt sharyy....bt solve my problem....
I have 2 grain companies....still i m having loss of 11 INR
mavo see graf's one comment where he has stated-
You and some of your friends are trying to cartelize and artificially jack up the prices of food products.
now u only tell wat does this mean??
Sharry says: "lol 1st u prove that that i and my frnds cleared all the goods from the market?"
Show me one place where I said that you and your friends cleared the goods from the market. I think its you who accused the govt of the same. Freudian slip, is it?? 😉
Prabal, I said some friends.. Does not necessarily mean eveyone.. now does it?
@Gopal, I dont want to target anything. Just want to ensure that one constituency in eIndia does not prosper at the cost of another.
About being personal, just roll up the comments on this article or my thread yesterday in the forum to see who has a habit of getting personal.
and btw, sharry's proposal was to increase import taxes and not reduce it.. xD
One good thing though about this debate. Folks who are hardly active on forums and IRC are coming out of the closet.. Well every cloud has a silver lining 😉