Tomato prices fall, among other veg in wholesale markets

Navi Mumbai's wholesale tomato prices dropped to ₹5-10/kg, a 70-80% decline since December, while retail prices lag behind due to old stock.

Navi Mumbai: Wholesale prices of tomatoes crashed to ₹5-10 per kilogram in the APMC market, Vashi on Saturday. Prices of other vegetables have also fallen since last month and they are expected to remain low till February. However, this slump is disproportionate to the price fall in retail markets, which are still trying to recover purchase price.

Tomato prices fall, among other veg in wholesale markets

Since December, tomato prices in the wholesale market have reduced by nearly 70% to 80%. It was sold for around ₹40 per kg in December, and ₹15-20 per kg last week. It declined to ₹5-10 per kg on Saturday. Shankar Pingle, APMC director (Vegetable) said that supply of vegetables to wholesale markets have increased due to the winter season, causing an average price drop of around 50% compared to last month.

He added the new stock of tomatoes coming in from Uttar Pradesh, Gujarat, Karnataka, and Madhya Pradesh have drastically increased the supply of tomatoes. “This is why prices have reduced considerably. Today’s supply was huge. Farmers are selling tomatoes for ₹5 to ₹10, or anything else they can get, as it is a highly perishable commodity and won’t last long. With more stock expected in the coming days, the situation will stay like this for now,” Pingle said.

Prakash Patil, a wholesaler, said vegetables like tomato, lady’s finger, capsicum, cabbage, green peas, cauliflower, brinjal, French beans, and bitter gourd are in abundant supply. “Their prices have fallen drastically too. The supply will continue till February, ensuring reduced prices. The price drop is primarily due to the cold weather, which is favourable for the vegetables as well as supplies that have started coming in from Bengaluru, Gujarat and Madhya Pradesh.”

Meanwhile, the retail market since last month has only seen 40%, reduction, with prices falling from ₹70 per kg to ₹40 per kg. This applies to other vegetables too, whose prices have reduced considerably in the wholesale market. Retailers say the full effect of the price crash on the retail market will take some time.

“We still have old stock that we purchased at a higher price. We need to cover our costs before we can reduce the price for buyers,” said Rajesh Gupta, a Vashi retailer. “Festivals like Makar Sankranti do affect the prices but it’s very temporary. Overall, the prices have been low for some time now and this should continue for a month at least.”