Wholesale tomato prices in Navi Mumbai have seen a dramatic drop of 70-80% since December, with prices falling from ₹40 per kg to ₹5-10 per kg. However, retail prices remain higher as shops are still selling older stock bought at the previous, elevated rates.

This price drop is largely due to an increase in supply, particularly as the winter season continues. Shankar Pingle, APMC’s vegetable director, explained that the influx of fresh produce has led to a 50% decrease in vegetable prices on average since last month. The arrival of new stock from key tomato-producing states like Uttar Pradesh, Gujarat, Karnataka, and Madhya Pradesh has contributed to the surplus and the subsequent price decline.

While wholesale prices have significantly fallen, retail prices have yet to reflect the change, as stores continue selling their older inventory at higher prices. Retailers are gradually adjusting their prices as they work through the older stock.

This delay in retail price adjustments highlights the gap between wholesale and retail markets. The reduction in tomato prices and other vegetables offers some relief for consumers, with further price drops expected as the market stabilizes. However, the pace of this adjustment will vary in retail stores.

Source: Hindustan Times