Making a veg meal at home 20% costlier now in India: CRISIL report
Vegetable prices account for 40% of a veg thali's cost and 22% for a non-veg thali, with onion and potato prices rising 46% and 51%, while tomato prices doubled
The cost of a home-cooked vegetarian thali rose by 20% in October 2024, compared to October 2023 and for a non-veg thali, costs rose 5%, according to a CRISIL Roti Rice Rate (RRR) report published on Wednesday, November 7, 2024.
This is despite the cost for a non-veg thali declining continuously for 12 consecutive months. When compared to the previous month, the cost of both veg and non-veg thalis rose by 6% and 4%, respectively.
The cost rise was driven primarily by increasing vegetable prices which account for about 40% of a veg thali's cost. For the non-veg thali, vegetable prices accounting for 22% of the cost overpowered a 9% decline on broiler prices that accounts for 50% of its total cost.
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By how much did vegetable prices increase?
More specifically, onion and potato prices rose 46% and 51% respectively in October, compared to the same month last year, according to the report which cited lower arrivals due to incessant rainfall in September. Onion prices rose 6% compared to the month before as well.
Tomato prices on the other hand, more than doubled from ₹29/kg in October 2023 to ₹64/kg in October 2024 due to the rains which damaged crops in Maharashtra, Karnataka and Andhra Pradesh. It increased by 39% compared to the previous month.
On top of that, the festive season demand in October further contributed to the rising prices.
However, the report also stated that the prices are expected to stabilise in November 2024 with supplies from Madhya Pradesh, Rajasthan and Himachal Pradesh.
By how much did other costs change?
Pulses, which account for 9% of the veg thali cost, became 11% costlier because of a 11% lower opening stock, a lower stock pipeline, as well as festive demand again.
The report stated that prices of pulses are expected to dip from December once fresh arrivals begin.
Meanwhile, vegetable oil prices rose 10% in October, compared to September. This was because of an increase in import duty coupled with strong festive demand.
Fuel costs did come down, just like broiler prices. An LPG cylinder in Delhi costed 11% less in March this year ( ₹803), compared to September last year ( ₹903).
How is the thali cost calculated exactly?
The average cost of preparing a thali at home is calculated based on the input prices for it, which includes cereals, pulses, broilers, vegetables, spices, edible oil and cooking gas.
The prices prevailing in north, south, east and west India are all taken into account to calculate an average.
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