Sluggish markets cast shadow over Eid-ul-Fitr in Kashmir

Srinagar, Mar 17: The festive buzz that traditionally sweeps Kashmir’s markets in the days before Eid-ul-Fitr is missing this year, with traders across the Valley describing one of the slowest pre-Eid seasons in living memory. They say that the effects of the Pahalgam attack, a bad apple season, rising prices, and global oil problems have all made families spend much less money.
“We have never seen such dullness before Eid. Usually, by this time, markets remain crowded till late evening, but now there are barely any customers,” said Bashir Ahmad, a trader from Shopian. “Sales are at an all-time low, and it is becoming difficult to even cover daily expenses.”
Traders said that while Eid shopping traditionally centred on clothes, footwear and bakery items, this year people were buying only essentials. They said the decline has been building since autumn, with hopes of a pre-Eid recovery now fading.
Mohammad Shafi Ganaie, a trader from Anantnag, said the damage ran deep. “People suffered losses due to low tourism after the Pahalgam attack last year and low apple demand due to highway closures. They are just buying essential commodities,” he said.
Rouf Ahmad, a member of the Traders Association in Pulwama, said sales had plummeted to a level where many were worried about sustaining their businesses. He cited global war tensions, rising crude oil prices and a shift in local investment towards high-density farming as compounding factors.
According to traders, tourism plays a crucial role in boosting local trade, and the lack of adequate tourist inflow has had a cascading effect on the overall economy.
“Last year’s tourism was not as good as expected, and that has directly affected our earnings,” said Ghulam Nabi, a garment shop owner in Anantnag. “People associated with tourism – cab drivers, hotel workers and guides – have less money this year, which means less spending in markets.”
The horticulture sector also faced challenges. Apple growers said they faced a “punishing” season, They added that low demand and poor returns left an entire segment of Kashmir’s economy with less to spend.
Inflation has emerged as another major concern. “Poor people are bearing the brunt of inflation,” said Abdul Rashid, a grocery shop owner in Baramulla. “They are focusing only on essential items and cutting down on everything else, including Eid shopping.”
Traders also noted a shift in spending patterns among those who do have resources. Rather than shopping, many are investing in high-density orchards. “People who have money are not spending in markets but are investing in agriculture. That is affecting retail businesses significantly,” said a trader from Kupwara.
Business associations have urged authorities to improve tourist inflow, ensure better returns for horticulture produce and control inflation to restore market confidence. Traders remain hopeful that last-minute shopping may bring some relief, but the prevailing mood suggests this Eid may pass without the economic cheer Kashmir’s markets are known for.
Senior trade leader and Kashmir Economic Alliance Chairman Mohammad Yaseen Khan said market activity in Kashmir has remained largely subdued ahead of Eid, with traders yet to witness the expected festive surge.
“So far, the market response has been quite dull. There is routine movement due to traffic, but the usual rush for Eid shopping, especially in clothing, is missing. Normally, we see a significant rise in sales a week before Eid, but that momentum is not visible this time,” he said.
With just a couple of days left, Khan said they are still hopeful. However, as of now, there is no major pickup in trade,” he said. (KNO)