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Vegetable prices have a 40 per cent weightage in the overall thali cost and hence fluctuations impacted the overall costs.
The cost of a vegetarian thali increased by 20% to Rs 33.3 per plate in October YoY. (Representative image)
Both vegetarian and non-vegetarian home-cooked meals became more expensive in October, with vegetable prices playing a key role in the price hike, according to a Crisil report.
Vegetarian Thali Prices Surge by 20%
The cost of a vegetarian thali (plate) increased by 20% to Rs 33.3 per plate in October, compared to the same period last year. The price was also higher than the Rs 31.3 recorded in September. This increase was primarily driven by a surge in vegetable prices.
Vegetable Price Hikes Impact Meal Costs
The Crisil report highlighted a significant rise in onion and potato prices, which surged by 46% and 51% year-on-year, respectively. The ongoing rains have affected vegetable harvests, particularly in Maharashtra and Karnataka, leading to lower arrivals.
Additionally, tomato prices more than doubled to Rs 64 per kg from Rs 29 per kg in October 2023, also due to supply disruptions caused by the weather. However, prices are expected to stabilize from November as supplies from Madhya Pradesh, Rajasthan, and Himachal Pradesh increase.
Fluctuations in Vegetable Prices Influence Overall Costs
Vegetable prices, which make up 40% of the overall thali cost, played a significant role in driving up the price of both vegetarian and non-vegetarian meals.
Additionally, the cost of pulses, which contribute 11% to the cost of a vegetarian meal, saw an 11% increase in October due to lower stock, reduced pipeline supplies, and higher festive demand. However, a cooling down in prices is expected in December as fresh supplies arrive.
Fuel Cost Drop Helps Offset Meal Price Hike
A drop in fuel prices by 11% year-on-year helped moderate the overall increase in meal costs, the report noted.
Non-Vegetarian Thali Prices See Slower Uptick
The cost of a non-vegetarian thali rose more modestly. A home-cooked non-veg thali cost Rs 61.6 in October, up from Rs 59.3 in September and Rs 58.6 in October 2023. This slower rise was attributed to a 9% decrease in broiler prices, which account for half of the non-veg thali cost.
Vegetable Prices Affect Non-Veg Thali Costs
While broiler prices helped curb the overall cost of a non-vegetarian meal, the increase in vegetable prices, which account for 22% of the non-veg thali cost, also impacted the final price.
