Retail Traders’ Pricing Strategies in Traditional Rice Markets During Covid – 19 Pandemic

Abstract

The agricultural supply system has totally affected because of Covid-19 crisis especially in traditional rice markets. During pandemic period, the traditional rice varieties satisfy the consumption need of health consciousness, improvement of immunity and sustainable consumption behavior causes increase in the price. This study focuses on the pricing strategies adopted by the retail traders during covid-19 pandemic period in Madurai includes importance of adjustment of cost, unpaired relationship of demand and supply, decent pricing practices and existence oriented ownership. The study also investigate how the retail traders of traditional rice varieties respond to the instability nature of market while seeking balance between his profitability and consumer affordability from the data collected from retail traders selling traditional rice varieties in Madurai. The result depicts fair considerations, customer-based pricing and ethical-based pricing were important to sustain in traditional rice markets during this covid-19 crisis.