Key Points:
- Vegetarian Thali Costs Surge: Average cost for a vegetarian thali rose by 6% year-on-year to ₹31.6 in December 2024, driven by higher prices of staples like tomatoes and potatoes.
- Non-Veg Thali Soars Higher: Non-vegetarian thali prices jumped 12% year-on-year to ₹63.3, primarily due to a 20% spike in broiler chicken prices.
- Tomatoes and Potatoes Drive Costs: Tomato prices surged by 24% (₹47/kg) and potatoes by 50% (₹36/kg), severely impacting household budgets.
- Vegetable Oil Prices Add Pressure: A 16% increase in vegetable oil prices, driven by higher import duties, further burdened consumers.
- Relief Factors: Lower LPG prices (down 11% YoY) and reduced onion prices (down 12% MoM) offered some relief, moderating overall costs.
New Delhi: Rising prices of essential food items have driven up the cost of homemade meals, with vegetarian thalis now costing ₹31.6 per plate in December 2024, up 6% compared to ₹29.7 in December 2023. Non-vegetarian thalis experienced an even steeper hike, with costs increasing by 12% year-on-year to ₹63.3 per plate, according to a report released on Monday by a unit of the rating agency CRISIL.
Although the price of a vegetarian thali declined slightly from ₹32.7 in November, the overall increase reflects the rising cost of key ingredients like tomatoes, potatoes, and vegetable oil, impacting household budgets nationwide.
Vegetarian Thali: Cost Drivers
The report highlights a 24% increase in tomato prices, which averaged ₹47/kg in December, and a staggering 50% hike in potato prices to ₹36/kg. Additionally, vegetable oil prices surged by 16%, attributed to higher import duties imposed by the government.
CRISIL’s “Roti, Rice Rate Report” assesses the cost of meals prepared at home and attributes the rise in vegetarian thali costs to these staples. However, a seasonal decline in onion prices (down 12%) and improved tomato supplies from Madhya Pradesh, Maharashtra, and Gujarat contributed to a marginal 3% cost reduction from November to December.
Non-Vegetarian Thali: Poultry Prices Soar
The cost of non-vegetarian thalis has risen more steeply due to a 20% increase in broiler chicken prices. Broiler, which accounts for 50% of the cost of a non-vegetarian meal, saw a price hike due to factors such as colder weather affecting production, increased demand during the wedding season, and higher feed costs.
Relief from Lower LPG Prices
One saving grace for consumers has been the reduction in LPG fuel costs, which fell by 11% year-on-year. This decline helped moderate the overall cost impact for both vegetarian and non-vegetarian thalis.
Month-on-Month Trends
Compared to November, December brought some relief for vegetarian thali costs, with tomatoes becoming 12% cheaper and potatoes 2% cheaper. However, broiler chicken prices continued to climb, contributing to a 3% month-on-month rise in non-vegetarian thali prices.
Economic Implications
The rising food costs reflect broader inflationary pressures that are squeezing household budgets. CRISIL’s report underscores the importance of monitoring essential commodity prices, as they directly affect the affordability of everyday meals for millions of Indians.
As consumers navigate these rising costs, policymakers may need to address supply chain issues and review import duties on critical items to ease the burden on households.
