Prices for the staple vegetable tomato are expected to stay high for another two months, CRISIL said.
Tomatoes represent 10 percent of total vegetable production in India.
“With standing crops damaged by excessive rains in Karnataka, Andhra Pradesh and Maharashtra, which are the main suppliers of tomatoes from October to December, supply is materially declining,” the agency said. rating.
Field studies indicate that the situation is so grim in Karnataka that tomatoes are being sent from Nashik to Maharashtra, he added.
âNot surprisingly, tomato prices have risen 142% year-on-year since November 25 and are expected to remain high for the next 45-50 days until the crop from Madhya Pradesh and Rajasthan reaches markets across the country. country in early January.
In addition, onion prices are expected to drop over the next 10 to 15 days when the newly harvested produce reaches markets in northern India, he added.
âTransplanting was delayed in the main producing areas of Maharashtra due to poor rains in August. This delayed arrivals in October, causing onion prices to rise 65% from September, âthe agency said.
On the contrary, potato prices are expected to rise over the next two months as heavy rains could affect seedlings and subsequently yield, the agency said.
Tomato, onion and potato are the three main vegetables consumed in the country.