New Delhi: The average cost of a home-cooked vegetarian thali remained unchanged year-on-year in February, as lower prices of onion, potato and pulses offset a sharp rise in tomato prices, Crisil said in a report on Friday. The cost of a non-vegetarian thali, however, fell 3% due to lower broiler prices, which account for nearly half of the meal's cost.
Tomato prices rose 43% y-o-y in February due to lower mandi arrivals from delayed transplantation, while onion prices fell 24% due to higher late kharif supply and weak exports. Potato prices declined 13% amid peak harvest and cold storage stock liquidation. Pulses prices also dropped 9% on higher stock levels.
In February, the cost of a non-veg thali fell due to an estimated 7% on-year decline in broiler prices.
Looking ahead, vegetable prices are expected to soften, said Pushan Sharma, director, Crisil Intelligence.
Amidst the tensions in the West Asia, exporters are cautious about potential logistical challenges, he said.
He added that West Asia tensions and potential trade disruptions may weaken demand for basmati rice in the near term, putting downward pressure on prices.
Iran accounts for about 18% of India's basmati rice exports, while other West Asian countries make up 55-60%.
However, non-basmati rice exports, which are largely shipped to African countries, are unlikely to be significantly affected, said Sharma.
According to Crisil, tomato prices may remain elevated until mid-April, before firming again as seasonal supplies tighten between crop cycles.
Potato prices are expected to stay subdued during the March-April peak arrival season, while onion prices may remain under pressure unless exports improve, noted Sharma.
On a monthly basis, the cost of veg and non-veg thalis declined 5% and 1%, respectively, in February, supported by lower tomato, potato and onion prices due to higher arrivals. The non-veg thali cost fell at a slower pace as broiler prices rose about 2% month-on-month, driven by higher feed costs, strong seasonal demand and tight supply.
Tomato prices rose 43% y-o-y in February due to lower mandi arrivals from delayed transplantation, while onion prices fell 24% due to higher late kharif supply and weak exports. Potato prices declined 13% amid peak harvest and cold storage stock liquidation. Pulses prices also dropped 9% on higher stock levels.
In February, the cost of a non-veg thali fell due to an estimated 7% on-year decline in broiler prices.
Looking ahead, vegetable prices are expected to soften, said Pushan Sharma, director, Crisil Intelligence.
Amidst the tensions in the West Asia, exporters are cautious about potential logistical challenges, he said.
He added that West Asia tensions and potential trade disruptions may weaken demand for basmati rice in the near term, putting downward pressure on prices.
Tomato spike offsets falling onion, potato prices; broiler prices pull down non-veg meal cost
Iran accounts for about 18% of India's basmati rice exports, while other West Asian countries make up 55-60%.
However, non-basmati rice exports, which are largely shipped to African countries, are unlikely to be significantly affected, said Sharma.
According to Crisil, tomato prices may remain elevated until mid-April, before firming again as seasonal supplies tighten between crop cycles.
Potato prices are expected to stay subdued during the March-April peak arrival season, while onion prices may remain under pressure unless exports improve, noted Sharma.
On a monthly basis, the cost of veg and non-veg thalis declined 5% and 1%, respectively, in February, supported by lower tomato, potato and onion prices due to higher arrivals. The non-veg thali cost fell at a slower pace as broiler prices rose about 2% month-on-month, driven by higher feed costs, strong seasonal demand and tight supply.
