Tomato prices may stay high for another 2 months: Crisil

New Delhi: Prices of staple vegetable tomato are likely to stay elevated for two more months, CRISIL said.

Tomatoes account for 10 per cent of the total vegetable production in India.

“With standing crops damaged by excess rains in Karnataka, Andhra Pradesh and Maharashtra, which are key suppliers of tomato during October-December, supply is down materially,” the rating agency said.

Ground surveys indicate that the situation is so grim in Karnataka that tomatoes are being sent from Maharashtra’s Nashik, it added.

“Not surprisingly, prices of tomatoes have increased 142 per cent on-year as on November 25 and are expected to remain elevated for the next 45-50 days till the harvest from Madhya Pradesh and Rajasthan reach markets across the country beginning January.”

“Transplanting was delayed in the key growing regions of Maharashtra because of deficit rains in August. That delayed arrivals in October, leading to a 65 per cent increase in onion prices compared with September,” the agency said.

On the contrary, potato prices are likely to rise in the next couple of months as heavy rains may affect sowing and subsequently the yield, the agency said.

Tomato, onion, and potato are the three major vegetables consumed in the country.