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Last Updated : Aug 30, 2018 07:47 PM IST | Source: Moneycontrol.com

Tomato prices plunge to Rs 2 per kilo: Report

Poor rainfall, sudden surge in production of tomatoes and decline in consumption are the key causes behind the drop in prices

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The price of tomatoes have steeply fallen from Rs 100 per kg a month ago to Rs 2 per kg as of August 30.

According to an Economic Times report, a kilo of tomato at the Narayangaon wholesale market of Maharashtra costs Rs 2 per kg, while it costs Rs 1.60 per kg in Madanapalle, Andhra Pradesh.

The paper noted that poor rainfall, a sudden surge in production of tomatoes and decline in its consumption and demand in Andhra Pradesh are the key causes behind the drop in prices.

The publication noted that a surge in production of the vegetable may be attributed to farmers banking on tomato prices rising to August 2017 levels.

Tomatoes costed Rs 900 for a 20kg crate and even sold for upto Rs 1,400 in the Narayangaon market at the time. Currently, the prices are now at Rs 400 for a 20kg crate.

Floods in the southern states have also led to choking of supplies, adding to losses for the farmers. The farmers are also forced to sell these vegetables at a distress price as they are of a perishable nature.
First Published on Aug 30, 2018 04:01 pm
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