Consumers battling inflation and rising cost of goods and services have reason to cheer. The price of vegetables and kitchen staples like tomatoes and onions has fallen by an average of around 25% in March when compared to February. Horticulture experts say that this is because there is a huge supply of vegetables in the market, which is more than the demand.
Both wholesale as well as retail rates have seen a steep decline. Onions, which had crossed ₹100/kg a few months ago, are now retailing at ₹34 at HOPCOMs. A kg of tomatoes is going for ₹15.
G.R. Srinivasan, Director, HOPCOMS, said, “The prices have come down because farmers have got a good yield. By the end of November, all the water sources were full due to rains. Farmers would have sown their crops, which are now being harvested,” he said. He added that while prices normally increase in March, a relatively good monsoon has helped keep the cost of vegetables down.
For now, consumers are elated over the dip in vegetable prices. “For just ₹500, I can buy enough vegetables for an entire week for my family as retail prices have come down,” said Suresh S., a resident of Malleswaram.
However, Mr. Srinivasan warned that this is just a temporary relief and that prices will soar in a month or two as water bodies will dry up in summer.
Farmers getting low rate
Farmers, who are getting a low price for their produce, are unhappy. Wholesale dealer B. Ravishankar said that people like him are waiting for the ban on the export of onions to be lifted. “Once that happens, farmers will get a better rate for onions,” he said.
