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[ad_1] NEW DELHI: An eight-fold surge in tomato prices is making some Indian farmers rich, although their windfall gains may be short-lived due to a likely rise in supplies in the coming weeks. Retail prices of tomatoes were at 178 rupees ($2.20) a kilogram in Delhi on Sunday, a jump of more than 700% from January 1, according to data compiled by the food ministry. The national average was almost 120 rupees that day. The hike, caused by heavy rains disrupting supplies, has hit consumer nerves, with many households temporarily forgoing tomatoes — an essential element of mainstay Indian dishes. But growers are elated. Ishwar Gaykar said he and his wife Sonali, who grow tomatoes on 12 acres (4.9 hectares) of land near Junnar in the western state of Maharashtra, have made a profit of about 24 million rupees so far in the current season, compared with 1.5 million a year earlier. The couple, who employ 60 to 70 daily workers to manage the fields, have emerged as one of the biggest su

[ad_1] The government today said retail prices of tomatoes are expected to fall after higher supply New Delhi: The government today said retail prices of tomatoes are expected to fall with higher supply of new crops from Maharashtra and Madhya Pradesh. The retail prices have shot up to Rs 200-250 per kilogram in several parts of the country as supply chain got disrupted due to monsoon rains and other issues. In a written reply to Rajya Sabha, Minister of State for Consumer Affairs, Food and Public Distribution Ashwini Kumar Choubey said, "Prices of tomato are expected to come down with the increase in arrival of new crop from Nashik, Naryangaon and Aurangabad belt in Maharashtra and also from Madhya Pradesh." He said the "current increase in tomato prices may incentivise farmers to grow more tomato crop which is expected to stabilise the prices in coming months". Mr Choubey attributed the recent increase in prices to a combination of factors like "crop sea

[ad_1] RBI says tomato price volatility gets transmitted to prices of other vegetables in both retail and wholesale markets. RBI in its Bulletin July 2023 says episodes of high tomato prices are short-lived; they stay above Rs 40 for an average duration of 2.6 fortnights, whereas remain below Rs 20 for 10 fortnights Even as tomato prices have reached as high as Rs 250 per kg in various parts of the country, the kitchen essential has “received widespread attention as it has taken a toll on households’ budgets", according to the ‘ RBI Bulletin — July 2023′ . The RBI said tomato prices stay above Rs 40 for an average duration of 2.6 fortnights (or 39 days), whereas prices remain below Rs 20 for an average duration of 10 fortnights (150 days). The central bank in the report also said the recent spike in tomato prices was on account of crop damage due to inclement weather and pest attacks in the major production belts. Here’s what the latest RBI Bulletin, released on Monday, July