Home-Cooked Meal Costs Decline Amidst Vegetable Price Correction
In June, the cost of home-cooked meals fell as key vegetable prices corrected from the previous year's highs. The Crisil Intelligence report highlights an 8% YoY decline for vegetarian plates and almost 6% for non-vegetarian. Vegetable oil remained costly with a notable LPG price increase also affecting thali costs.
- Country:
- India
The Crisil Intelligence report indicates a significant decrease in home-cooked meal costs due to sharply corrected vegetable prices. June saw an 8% year-on-year reduction in vegetarian thali prices, while non-vegetarian thali costs fell by nearly 6%.
A drop in tomato prices by 24%, down to Rs 32 per kg, is primarily credited for the decrease in vegetarian thali costs, following last year's inflation driven by poor crop yields. Potato and onion prices also plummeted by 20% and 27% respectively, driven by last year's weather challenges affecting crop output.
Conversely, costs were impacted by a 19% rise in vegetable oil prices and a 6% hike in LPG costs, with the benefits of reduced import duties not reaching consumers. Month-on-month analysis shows both thali types increased in price due to supply-side challenges, particularly in tomatoes and poultry.
(With inputs from agencies.)
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