The latest report from CRISIL Roti Rice Rate (RRR) revealed that the cost of a home-cooked vegetarian thali saw a significant increase of 20% in October 2024 compared to the same month in 2023. In contrast, the price of a non-vegetarian thali rose by a lower rate of 5%. Interestingly, despite a 12-month continuous decline in the cost of a non-veg thali, both vegetarian and non-vegetarian thali prices increased in October 2024, with the cost of a vegetarian thali rising by 6% compared to the previous month, while a non-veg thali increased by 4%.
The price hike in October 2024 was largely driven by the rising costs of vegetables, which constitute about 40% of the total cost of a vegetarian thali and 22% of a non-vegetarian thali. While there was a 9% drop in broiler prices, which makes up 50% of the cost of non-veg thalis, it was outweighed by the increase in vegetable prices. Onion and potato prices specifically saw significant increases, with onion prices rising by 46% and potato prices going up by 51%, attributed to lower supply as a result of heavy rainfall in September. Additionally, tomato prices more than doubled from Rs 29 per kg in October 2023 to Rs 64 per kg in October 2024 due to crop damage in Maharashtra, Karnataka, and Andhra Pradesh.
The CRISIL report also highlighted that vegetable oil prices increased by 10% in October 2024 due to higher import duties and strong festive demand. However, fuel prices and broiler prices experienced a decrease during this period. The report predicts that prices are likely to stabilize in November 2024 as supplies from Madhya Pradesh, Rajasthan, and Himachal Pradesh increase. Furthermore, the price of an LPG cylinder in Delhi dropped by 11%, from Rs 903 in September last year to Rs 803 in March this year. The average cost of preparing a thali at home takes into consideration ingredients like cereals, pulses, broilers, vegetables, spices, edible oil, and cooking gas, factoring in prices from different regions in India to determine the average cost.