New Delhi, May 10: The prices of vegetarian and non-vegetarian meals in India increased by 2% year-on-year in April. This rise is attributed to the escalating costs of tomatoes and liquefied petroleum gas (LPG). This information comes from the latest Roti Rice Rate (RRR) report by Crisil Intelligence.
The report indicates that a decrease in tomato cultivation area in southern states has led to a 38% increase in tomato prices compared to the same period last year.
Additionally, global supply pressures have resulted in a 7% rise in the prices of vegetable oils and LPG cylinders.
Pushpan Sharma from Crisil Intelligence stated, “The increase in costs of tomatoes, vegetable oils, and LPG cylinders has led to a 2% rise in the expenses for both vegetarian and non-vegetarian meals at home compared to last year.”
Crisil has warned that tomato prices may remain high in the coming months, with potential further increases expected in July and August. This is due to lower sowing during the summer season, weak price sentiment among farmers, and the possibility of heatwaves in major tomato-producing regions of northern India.
The report also raised concerns about onion and potato prices. Due to an estimated 4-6% decline in this year’s rabi crop production, onion prices are expected to remain elevated.
With the potato harvesting season ending and stored supplies entering the market, potato prices may also see an increase.
According to the report, geopolitical uncertainties in West Asia are likely to keep vegetable oil prices stable in the near future, affecting global supply conditions.
However, there is some relief regarding pulse prices. Crisil noted that due to adequate supply and low demand, pulse prices are expected to remain soft.
It also mentioned that favorable imports, the release of government buffer stocks, and stability in domestic arrivals are likely to maintain good supply levels in the markets despite a decline in domestic production.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment