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Prices of tomatoes spurt 142% in November, no immediate relief: Crisil

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Our on-ground interactions indicate that the situation is so grim in Karnataka that tomatoes are being sent from Nashik in Maharashtra.Our on-ground interactions point out that the scenario is so grim in Karnataka that tomatoes are being despatched from Nashik in Maharashtra.

Tomato costs have jumped by 142% year-on 12 months in November and are more likely to rise for an additional 45-50 days, in response to Crisil Analysis.

Karnataka, Andhra Pradesh and Maharashtra are key suppliers of tomato from October to December. Nevertheless, with standing crops being broken by extra rains in Karnataka (105% above regular), Andhra Pradesh (40% above regular) and Maharashtra (22% above regular), the provision has fallen.

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“Our on-ground interactions point out that the scenario is so grim in Karnataka that tomatoes are being despatched from Nashik in Maharashtra. Costs of tomatoes have elevated 142% on-year as on November 25 and are anticipated to stay elevated for the subsequent 45-50 days until the harvest from Madhya Pradesh and Rajasthan attain markets throughout the nation starting January,” mentioned Hetal Gandhi, director, Crisil Analysis. She mentioned costs are anticipated to say no by 30% from the present excessive ranges of round Rs 47 per kg in two-three months.

Equally, onion costs ought to start easing in two weeks, Crisil mentioned. “The onion crop, which accounts for 14% of the overall greens produced in India, has additionally been affected. Transplanting was delayed in the important thing rising areas of Maharashtra due to deficit rains in August. That delayed arrivals in October, resulting in a 65% enhance in costs in contrast with September, Gandhi mentioned. “Recent arrivals are anticipated from the northern states resembling Haryana within the subsequent 10-15 days, which ought to scale back costs throughout India. Nevertheless, since 70% of onion manufacturing occurs within the rabi season, November is the foremost sowing month and rainfall would be the key monitorable for each arrivals and costs,” Gandhi mentioned.

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