India’s tomato farmers cash in as prices skyrocket 700 per cent: ‘supply is thin, while demand remains strong’

The price increase, caused by heavy rains disrupting supplies, has hit consumers, with many forgoing the essential ingredient – but growers are elated

One farming couple made a profit of US$292,000 so far in the current season, compared with US$18,000 a year earlier, and gained celebrity status

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Due to crop damage during extreme weather, the price of tomatoes has gone sky high un India. Photo: EPA-EFE

Published: 5:21pm, 18 Jul 2023Updated: 9:30am, 19 Jul 2023

An eight-fold surge in tomato prices is making some Indian farmers rich, although their windfall gains may be short-lived due to a likely rise in supplies in the coming weeks.

Retail prices of tomatoes were at 178 rupees (US$2.20) a kilo in Delhi on Sunday, a jump of more than 700 per cent from January 1, according to data compiled by the food ministry. The national average was almost 120 rupees that day.

The hike, caused by heavy rains disrupting supplies, has hit consumer nerves, with many households temporarily forgoing tomatoes – an essential element of mainstay Indian dishes. But growers are elated.

Ishwar Gaykar said he and his wife Sonali, who grow tomatoes on 12 acres (4.9 hectares) of land near Junnar in the Western state of Maharashtra, have made a profit of about 24 million rupees (US$292,000) so far in the current season, compared with 1.5 million (US$18,000) a year earlier.

People buying tomatoes at a vegetable market in Mumbai, India. Photo: EPA-EFE

The couple, who employ 60 to 70 daily workers to manage the fields, have emerged as one of the biggest suppliers of tomatoes in the region. Ishwar has gained celebrity status as local media outlets are lining up for interviews.