New Delhi [India], The cost of preparing a homemade vegetarian thali increased by 10 percent in June compared to the same period last year, while the cost of a non-vegetarian thali decreased by 4 percent, according to the latest report . estimates from the CRISIL report.
This divergence in food costs has been largely influenced by significant changes in the prices of key ingredients.
The rise in cost of vegetarian thali can be attributed to the sharp rise in prices of essential vegetables - tomato, onion and potato (TOP).
Year-on-year, tomato prices soared 30 percent, onion prices soared 46 percent, and potato prices rose a staggering 59 percent. This increase in vegetable prices has been largely due to several adverse factors affecting supply.
The summer crop suffered a major setback due to high temperatures in key growing regions such as Karnataka and Andhra Pradesh. This led to a virus infestation and subsequently a 35 percent reduction in tomato arrivals.
The market recorded lower arrivals of onions as a result of a significant drop in rabi acreage, leading to tight supply and rising prices.
Unseasonal rains in March negatively affected the yield of the potato crop, contributing to higher prices.
Additionally, other basic ingredients of the vegetarian thali also saw price hikes. The cost of rice, which accounts for around 13 per cent of the vegetable thali, rose by 13 per cent due to a drop in acreage and moderating arrivals.
Pulses, which account for 9 per cent of the thali cost, saw a price hike of 22 per cent, attributed to a drought during the key kharif months that affected its production.
On the contrary, the cost of a non-vegetarian thali decreased mainly due to a notable drop in broiler chicken prices, which account for about 50 per cent of the cost of non-vegetarian thali. Broiler prices fell about 14 percent year over year,
Despite year-on-year trends, both vegetarian and non-vegetarian thalis saw cost increases month on month. The cost of vegetable thali increased by 6 per cent from May to June, driven by a 9 per cent, 15 per cent and 29 per cent rise in potato, onion and tomato prices, respectively. These increases were due to the fact that arrivals of these vegetables continued to be low.
Similarly, the cost of non-veg thali increased by 4 per cent during the same period. While high vegetable prices contributed to this increase, the increase was mitigated by a modest 1 percent increase in broiler costs.
This trend of rising costs of vegetarian thali has been observed since May, when the cost of a home-cooked vegetarian meal increased by 9 per cent compared to the previous year, according to the CRISIL report.
The main drivers of this increase were the rising prices of tomatoes, potatoes and onions, which have increased steadily since the beginning of the fiscal year.
The Ministry of Agriculture and Farmers Welfare has also observed a significant reduction in rabi crops and decline in potato arrivals due to crop damage and diseases, particularly in West Bengal.
This reduction in supply has caused prices to rise. The Ministry sees a considerable drop in onion production this year, projecting a decline from 302.08 lakh tonnes last year to 242.12 lakh tonnes in 2023-24, raising concerns over future price hikes of onion. the food.
On the contrary, tomato production is expected to see a slight increase of around 3.98 per cent, reaching approximately 212.38 lakh tonnes.
The contrasting trends in the cost of non-veg thalis have been largely supported by an estimated 16 per cent drop in broiler prices, which played a crucial role in keeping costs down despite high base effects of the previous fiscal year.
This divergence in food costs has been largely influenced by significant changes in the prices of key ingredients.
The rise in cost of vegetarian thali can be attributed to the sharp rise in prices of essential vegetables - tomato, onion and potato (TOP).
Year-on-year, tomato prices soared 30 percent, onion prices soared 46 percent, and potato prices rose a staggering 59 percent. This increase in vegetable prices has been largely due to several adverse factors affecting supply.
The summer crop suffered a major setback due to high temperatures in key growing regions such as Karnataka and Andhra Pradesh. This led to a virus infestation and subsequently a 35 percent reduction in tomato arrivals.
The market recorded lower arrivals of onions as a result of a significant drop in rabi acreage, leading to tight supply and rising prices.
Unseasonal rains in March negatively affected the yield of the potato crop, contributing to higher prices.
Additionally, other basic ingredients of the vegetarian thali also saw price hikes. The cost of rice, which accounts for around 13 per cent of the vegetable thali, rose by 13 per cent due to a drop in acreage and moderating arrivals.
Pulses, which account for 9 per cent of the thali cost, saw a price hike of 22 per cent, attributed to a drought during the key kharif months that affected its production.
On the contrary, the cost of a non-vegetarian thali decreased mainly due to a notable drop in broiler chicken prices, which account for about 50 per cent of the cost of non-vegetarian thali. Broiler prices fell about 14 percent year over year,
Despite year-on-year trends, both vegetarian and non-vegetarian thalis saw cost increases month on month. The cost of vegetable thali increased by 6 per cent from May to June, driven by a 9 per cent, 15 per cent and 29 per cent rise in potato, onion and tomato prices, respectively. These increases were due to the fact that arrivals of these vegetables continued to be low.
Similarly, the cost of non-veg thali increased by 4 per cent during the same period. While high vegetable prices contributed to this increase, the increase was mitigated by a modest 1 percent increase in broiler costs.
This trend of rising costs of vegetarian thali has been observed since May, when the cost of a home-cooked vegetarian meal increased by 9 per cent compared to the previous year, according to the CRISIL report.
The main drivers of this increase were the rising prices of tomatoes, potatoes and onions, which have increased steadily since the beginning of the fiscal year.
The Ministry of Agriculture and Farmers Welfare has also observed a significant reduction in rabi crops and decline in potato arrivals due to crop damage and diseases, particularly in West Bengal.
This reduction in supply has caused prices to rise. The Ministry sees a considerable drop in onion production this year, projecting a decline from 302.08 lakh tonnes last year to 242.12 lakh tonnes in 2023-24, raising concerns over future price hikes of onion. the food.
On the contrary, tomato production is expected to see a slight increase of around 3.98 per cent, reaching approximately 212.38 lakh tonnes.
The contrasting trends in the cost of non-veg thalis have been largely supported by an estimated 16 per cent drop in broiler prices, which played a crucial role in keeping costs down despite high base effects of the previous fiscal year.