New Delhi [India] May 7 (ANI): The cost of home-cooked vegetarian and non-vegetarian thalis declined by 4 per cent year-on-year in April, driven by a sharp fall in vegetable prices, according to a report by credit rating information services firm Crisil.
According to the Roti Rice Rate Report of the Crisil, this drop comes despite higher costs of cooking essentials like LPG (Liquefied Petroleum Gas) and edible oils.
The credit rating firm observed that the overall cost relief was tempered by a 19 per cent increase in vegetable oil prices, attributed to a rise in import duties, and a 6 per cent jump in LPG cylinder prices.
"Edible oil prices are also likely to soften over the next 2-3 months as global supplies pick up, mainly from Argentina, Indonesia and Malaysia. Rice prices, though, are expected to inch up with a projected increase in exports. And among vegetables, onion prices are likely to be rangebound while tomato prices are forecast to rise on account of seasonality," said Pushan Sharma, Director- Research, Crisil Intelligence.
The price of a vegetarian thali was reduced by a plunge in vegetable prices. Tomatoes saw the steepest year-on-year decline, dropping 34 per cent to Rs 21 per kg from Rs 32 per kg in April 2024, mainly due to a high base effect from last year's low crop yield.
Potato prices also fell 11 per cent amid a high base created by last year's blight infestation and unseasonal rainfall in West Bengal. Onion prices declined 6 per cent on similar grounds.
For non-vegetarian thalis, as per the report, a key cost driver was broiler chicken, which saw a 4 per cent year-on-year price drop.
Broiler makes up about 50 per cent of a non-vegetarian thali's cost. The price dip was due to oversupply and weakened demand, following bird flu outbreaks in Maharashtra, Andhra Pradesh, Telangana, and Karnataka.
On a month-on-month basis, vegetarian thali costs dropped by 1, while non-vegetarian thalis became nearly 2 per cent cheaper in April. This was mainly due to a 2 per cent fall in potato prices and a sharp 14 per cent decline in onion prices. Broiler prices also slipped 2 per cent month-on-month, further reducing non-vegetarian meal costs. Tomato prices, however, edged up by 1 per cent.
Source name : Economic Times