Softer vegetable prices lower meal cost in April: Report-OxBig News Network

Softer vegetable prices helped in lowering the cost of home-made meals in April this year, a report said on Wednesday.

As per the “roti rice rate” report prepared by an arm of domestic rating agency Crisil, the cost of a typical vegetarian meal reduced 4 per cent year-on-year and 1 per cent month-on-month to Rs 26.3 in April.

The on-year fall in prices was attributed to the sharp decline in vegetable prices, which included a 34 per cent plummet in tomato, an 11 per cent decrease in potato and a 6 per cent drop in onions.

A 19 per cent increase in vegetable oil prices due to higher import duties and a 6 per cent rise in LPG cylinder prices limited the decline in thali costs, the report said.

A non-vegetarian thali declined by 4 per cent year-on-year and 2 per cent month-on-month to Rs 53.9 per plate, it added.

Further, the report said that the decline in the price of a non-veg meal was influenced by the softening of the vegetable prices and a dip in poultry prices, which was hit by oversupply as bird flu in some peninsular states impacted demand.

“Going forward, wheat and pulse prices are expected to moderate amid strong domestic output. 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,” Crisil Intelligence’s director Pushan Sharma said.