Otipy’s new index offers insights into fruit & vegetable price trends

The pricing dynamics within the fruits and vegetables sectors have revealed a noticeable correlation in recent months

0
41
New Delhi:  Otipy, a leading player in the Indian agritech sector, has released a comprehensive analysis of per-kilogram prices for various fruits and vegetables. This analysis examines trends from March to May and offers predictions for market conditions from June to August.
The Price Analysis Index provides crucial insights into price tendencies, helping stakeholders make informed decisions for the upcoming months.
Key highlights from the Price Analysis Index:
The pricing dynamics within the fruits and vegetables sectors have revealed a noticeable correlation in recent months. Take, for example, the trajectory of Mango (Dasheri, Carbide-Free), where prices plummeted from ₹194/kg in April to ₹102/kg in May, projected to dip further to ₹86/kg in June before peaking at ₹100/kg in July. Similarly, Watermelon prices saw a decline from ₹44/kg in March, further dropping to ₹28/kg in April and ₹24/kg in May. Based on this trend, forecasts suggest an increase to ₹31/kg in June and further to ₹44–₹48/kg in July and August.
The price of Pomegranates has been on a rollercoaster, initially rising to ₹169/kg in March, then dropping to ₹175/kg, only to surge again to ₹211/kg in May. Forecasts suggest a further increase to ₹236/kg in July, followed by a drop to ₹172/kg in August. This trend reflects wider market volatility, mirrored by fruits like Papaya, which experienced slight fluctuations from ₹58/kg in May, projected to rise to ₹68/kg in June before sharply ascending to ₹73/kg in July, then dropping to ₹53/kg in August. Large Bananas maintained a steady trend around April but saw a slight decrease to ₹65/kg in May, expected to drop further to ₹58/kg in June before gradually climbing to ₹69/kg in July and ₹74/kg in August. This pattern highlights the growing demand for staple fruits regardless of the season.
The prices of Tender Coconuts saw a gradual increase to ₹62/kg in May, stabilizing at ₹65/kg from June to August, aligning with other essential fruits. Small Apples witnessed a notable price escalation from ₹200/kg in March and April, with projections indicating a further increase to ₹239/kg by August, making them increasingly preferable among consumers. Conversely, Imported Small Green Kiwis plummeted to ₹81/kg in May, and remained fluctuating around ₹85-₹90/kg during the summer months, highlighting the impact of imports on the domestic market.
In the vegetable segment, onions fluctuated to around ₹40/kg in March and ₹33/kg in May. Expectations indicate stability within the ₹35-40/kg range from June to August, mirroring the supply and demand dynamics observed in the fruit markets.
Hybrid tomatoes exhibited significant price fluctuations, starting at ₹45/kg in May and dropping to ₹31/kg. Projections suggest a rise to ₹41/kg by June, with an anticipated peak of ₹90/kg in August. French beans followed a similar pattern, with prices at ₹92/kg in March, ₹111/kg in April, and ₹89/kg in May, dropping to ₹69/kg in June, before rising to ₹97/kg in July and peaking at ₹115/kg in August. Ginger, known for its frequent price fluctuations, is expected to reach a peak of ₹247/kg in August.
The price trends for lemons exhibited a gradual increase, rising to ₹217/kg in May, peaking at ₹284/kg in July, before gradually declining to ₹182/kg in August. Similarly, okra prices followed a similar pattern, dropping to ₹78/kg in May, reaching a low of ₹50/kg in June and August. Premium red and orange carrots experienced consistent market demand, with prices increasing from ₹43/kg to ₹45/kg between April and May, and slightly rising to ₹55/kg in August.
Button mushrooms saw a steady escalation in prices, climbing to ₹222/kg in May, and further increasing to ₹275/kg in August. Conversely, seedless cucumbers experienced price variations, dropping to ₹41/kg in May and approximating ₹55/kg in August.
In the vegetable market, the long bottle gourd (lauki) rose to ₹44/kg by May and is expected to further increase to ₹57/kg in August. Similarly, green capsicum declined to ₹66/kg in May but is forecasted to rebound to ₹88/kg in August. Meanwhile, potatoes exhibited moderate price stability, rising to ₹31/kg in May, with prices expected to remain around ₹35-36/kg in the coming months, reflecting consistent demand for this staple vegetable throughout the year.
According to Varun Khurana, CEO of Otipy, “We remain committed to empowering both farmers and consumers with valuable insights into the fluctuating dynamics of the agricultural market. Our comprehensive analysis sheds light on the intricate price movements of fruits and vegetables, providing stakeholders with the knowledge needed to navigate through market volatility effectively. Through this endeavor, Otipy reaffirms its dedication to fostering a fair and sustainable agricultural ecosystem in India, ensuring equitable opportunities for all involved.”
This corroborates the fact that changes in demand and supply are pivotal to the fruits and vegetables market characterized by consistent price changes in line with the market and seasonal changes. While often the price of certain fruits such as mango, and watermelons has seen the normal trend of having lower prices during times of high supply of the produce, other commodities like onions, tomatoes and ginger have seen their prices change sharply due to unpredictable fluctuations in supply and demand. Nevertheless, certain items such as bananas, tender coconuts and potatoes show the least fluctuation in demand and have some reasonable price variations. It also accentuates the need to have a broader perspective of various price fluctuations in the sector while noting the tricky issue of consumers’ demand and seasonal supply.