Households across India breathed easier in January as the price of homemade vegetarian thalis fell 1% compared to last year, with non-veg thalis dropping even more dramatically by 7%. Crisil Intelligence’s latest food cost indicator points to easing vegetable and pulse prices as the primary drivers.
Onions led the charge with a 27% annual plunge, fueled by high stock levels and export curbs. Potatoes shed 23%, rebounding from last season’s scarcity premium. Pulses averaged a 14% decline, supercharged by massive import jumps: Bengal gram imports skyrocketed nine times, yellow peas by 85%, and black chickpeas by 31%.
These policy-backed imports, extended to March 2026, have flooded markets effectively. Yet, tomatoes bucked the trend, surging 50% to Rs 46/kg amid a 39% arrival slump. Cooking costs added headwinds too—vegetable oils up 4% from soybean supply crunches, LPG 6% higher year-on-year.
‘The veg thali relief stems from onion, potato, and pulse softness, tempered by tomato hikes and fuel costs,’ explained Crisil director Pushpan Sharma. As current fiscal stocks improve, consumers hope this momentum continues, potentially easing broader food inflation in coming months.