Roti, Rice, Rate: Veg Meal Costs Up 9% In May, Non-veg Prices Drop
The increase in the prices of vegetables such as tomatoes, potatoes and onion remains a major contributor to the increased cost of a vegetarian meal (thali)
The cost of preparing a vegetarian meal (thali) at home increased by 9 per cent in May compared to the same month the previous year, CRISIL MI&A Research observed in its monthly indicator of food plate cost report.
In contrast, the cost of preparing a typical non-vegetarian meal (thali) at home decreased by 7 per cent over the same period. Essentially, it became more expensive to make a vegetarian meal and cheaper to make a non-vegetarian meal compared to a year ago, the research highlighted.
The increase in the prices of vegetables such as tomatoes, potatoes and onion remains a major contributor to the increased cost of a vegetarian meal (thali).
While the cost of other major components of vegetarian meals broadly remained flat.
A surge of 39 per cent, 41 per cent and 43 per cent on-year in the prices of tomato, potato and onion was recorded respectively, largely because of the low base of last fiscal.
A significant drop in rabi crops and a decline in potato arrivals because of disease and crop damage in West Bengal reduced the harvest which caused the prices to go up.
Recently the Ministry of Agriculture and Farmers Welfare anticipated a drop in onion production this year, adding apprehensions of further increase in the cost of food items. The vegetable production is anticipated to be around 204.96 million tonnes.
The Ministry said onion production is projected to drop significantly from 302.08 lakh tonnes last year to 242.12 lakh tonnes in 2023-24. This will be a decrease of about 60 lakh tonnes from the last year.
In contrast, tomato production is expected to increase by 3.98 per cent, reaching approximately 212.38 lakh tonnes in 2023-24 compared to around 204.25 lakh tonnes last year.
An estimated 16 per cent drop in broiler prices supported the cost of non-veg thali to go down.
The cost of the non-veg thali decreased as prices of broilers, which account for 50 of the cost, declined an estimated 2 per cent on a high base, the report added. (ANI)
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