Making a vegetarian meal at home is 20% more expensive in India, says CRISIL report

The cost of a home-cooked vegetarian thali increased by 20% in October 2024 compared to October 2023, while the price of a non-vegetarian thali rose by 5%, a report by CRISIL Roti Rice Rate (RRR) revealed.

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. Compared to the previous month, the cost of a vegetarian thali rose by 6%, while a non-veg thali increased by 4%. The price hike was mainly driven by higher vegetable costs, which make up about 40% of a vegetarian thali’s cost. For non-veg thalis, the rise in vegetable prices, which account for 22% of the total cost, outweighed a 9% drop in broiler prices, which make up 50% of the cost.

Onion and potato prices saw significant increases in October 2024. Compared to October 2023, onion prices rose by 46%, while potato prices went up by 51%. The report attributed these hikes to lower supply due to heavy rainfall in September. Additionally, onion prices also increased by 6% compared to the previous month.

Tomato prices saw a sharp increase, more than doubling from Rs 29 per kg in October 2023 to Rs 64 per kg in October 2024. This surge was due to crop damage caused by rains in Maharashtra, Karnataka, and Andhra Pradesh. Prices also rose by 39% compared to the previous month, with the festive season demand adding to the price hike.

The report also mentioned that prices are likely to stabilize in November 2024, thanks to increased supplies from Madhya Pradesh, Rajasthan, and Himachal Pradesh.

Pulses, which make up 9% of the cost of a veg thali, became 11% more expensive due to a lower opening stock, reduced supply, and increased festive demand. However, the report predicts that pulse prices will drop in December as fresh stocks arrive.

In October, vegetable oil prices increased by 10% due to higher import duties and strong festive demand. On the other hand, fuel prices and broiler prices went down. The cost 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 is calculated by considering the prices of ingredients like cereals, pulses, broilers, vegetables, spices, edible oil, and cooking gas. The prices from different regions—north, south, east, and west India—are all factored in to determine the average cost.