Major Price Hike Witnessed for Essential Vegetables
The prices of everyday vegetables like tomatoes, onions, and potatoes have skyrocketed in the past month, causing concern for Indian consumers. Retail prices have risen by 15% to 58%, with tomatoes experiencing the sharpest increase at nearly 59%.
The average retail price of tomatoes on Wednesday was ₹55.04 per kilogram, a significant jump from ₹34.73 a month ago. This represents a rise of 58.48%. Thankfully, the situation is not as severe as last July, when tomatoes touched ₹250 per kg in some areas.
Onions and Potatoes Also Affected
Onions have not been spared either. The average retail price on Wednesday was ₹42.46 per kg, a 31% increase compared to last month. This is a major price surge since last year.
Potato prices have also climbed, with the average retail price reaching ₹34.65 per kg. This is a 15.6% increase from last month and a 50.78% rise compared to July 2023.
Government Expected to Stabilize the Prices
Despite the surge, the government maintains that the situation is temporary. They anticipate prices for tomatoes and onions to come down soon. However, potato prices are likely to remain high for the season.
The source of the onion price increase is attributed to a 40 lakh metric tonne production decline during the last rabi season. While potato prices might dip slightly in the coming days due to increased releases from cold storage, they are still expected to be higher than last year.
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