NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown
    Business

    Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown

    Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown
    Written by Shalini Ojha
    Jul 20, 2020, 02:52 pm 3 min read
    Prices of potatoes and tomatoes surge, courtesy poor crop, lockdown

    While last year, prices of onions induced tears among Indian households, this year potatoes and tomatoes are responsible for the same. A staple in all houses, potato is being sold at an average of Rs. 30/kg, a sharp rise from three months ago when it was sold at Rs. 20/kg. Similarly, one kg of tomato is being sold at Rs. 50, reports Indian Express.

    Prices of onions have been dipping since last few months

    In sharp contrast to potatoes and tomatoes, prices of onions dipped this season from being sold at Rs. 30/kg (average) to Rs. 20/kg. An online grocer confirmed to the daily that average sale price (ASP) of onions has dipped in the last few months. In NCR, the ASP was Rs. 78/kg in January and dipped to Rs. 36/kg in March.

    Prices of tomatoes have remained volatile

    In May, the ASP fell to Rs. 22.5/kg and went to Rs. 20/kg in the current month. On the other hand, ASP for potatoes has more than doubled since February when it was Rs. 31/kg. The ASP of tomatoes has been highly volatile. In January, March, May, and July, it was Rs. 30/kg, Rs. 22/kg, Rs. 14/kg, and Rs. 57/kg respectively.

    Owing to lesser produce, farmers didn't stock potatoes

    In states like Uttar Pradesh and West Bengal, farmers deposited 36 crore bags (of 50 kg each) in cold stores, to be used for staggered sale till October-November. Last year, they had deposited 48 crore bags and the two years preceding that they kept 46 crore and 57 crore bags respectively. The figures this year indicate a lower production.

    Coronavirus, and the lockdown which followed, also affected prices

    A farmer-cum-cold store owner in Agra, Doongar Singh Chaudhary, said demand dipped during the coronavirus-induced lockdown. "If there was no demand drop from lockdown, the rates would have touched Rs. 23-24/kg. They had actually gone down to Rs. 15-16 in May, before recovering to the present levels," he said. He opined farmers sold merely 25% of their crops for cold storage.

    Notably, prices of tomatoes surged in June

    In the case of tomatoes, prices in key wholesale markets like Kolar (Karnataka), Madanapalle (Andhra Pradesh), Narayangaon, and Sangamner (Maharashtra) reached as low as Rs. 3-5/kg in the month of May. In June, prices peaked because of fewer summer crops. However, there is expectation that prices would return to normalcy when the just-planted kharif crop is harvested. Relief is expected by mid-August.

    CPI inflation crossed RBI's window last month

    It's pertinent to highlight that Reserve Bank of India (RBI) set the window of annual consumer price index (CPI) inflation at 4-6%. But it surged to 6.09% last month. The rise in prices of essential vegetables will make it difficult for the apex bank to cut interest rates, in the hope of bringing back growth in the economy, already suffering due to coronavirus.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Uttar Pradesh
    Andhra Pradesh
    Reserve Bank Of India (RBI)
    Coronavirus

    Uttar Pradesh

    Nepalese tonsured in UP, forced to chant "Jai Shri Ram" Facebook
    UP government to implement 'mini' lockdown every weekend Ministry of Health and Family Welfare
    Terrorized by gangster Vikas Dubey, villagers celebrate new-found independence Madhya Pradesh
    Encounters in UP: Police rewarded clean chit in 74 probes Supreme Court Of India

    Andhra Pradesh

    Coronavirus: India's death rate is declining, positivity rate surging India
    Coronavirus: With 28,000+ new cases, India records biggest single-day spike India
    Coronavirus: India's tally crosses 7 lakh; over 20,100 dead India
    Asked to wear mask, Andhra government employee brutally assaults woman Crime Against Women

    Reserve Bank Of India (RBI)

    Amid coronavirus crisis, RBI extends loan moratorium till August Shaktikanta Das
    More services to be allowed after April 20: Details here Coronavirus
    Struggling economy gets RBI's boost, big announcement for banks International Monetary Fund
    Coronavirus: Stimulus 2.0 in mind, Modi and Sitharaman hold talks Narendra Modi

    Coronavirus

    Coronavirus: With 40,000+ new cases, India's tally crosses 1.1 million-mark India
    Dengue during COVID-19: Here's what you need to know India
    Of 80 million Iranians, 25 million infected with coronavirus: Rouhani Iran
    In just 100 hours, world added 1 million coronavirus cases India

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023