TIRUPATI: The Madanapalle market, Asia's largest tomato trading hub, witnessed a spike in the commodity’s prices on Monday - the highest rate reaching Rs 80 per kg.
The surge was caused by a combination of factors, including the Bakrid festival and a significant decline in tomoato supply from other mandals and neighbouring states.
According to market officials, the demand for tomatoes at Madanapalle market has been steadily increasing, with farmers bringing between 600 and 750 tonnes of produce daily. However, on Monday, the market received only 396 tonne tomatoes from surrounding villages, substantially lower than the quantity required for export.
"The Madanapalle market serves as a crucial hub for tomato trade, catering to the demand from various regions. The shortage of supply, coupled with sporadic rainfall across the country, has led to a decline in tomato production in various regions," explained a market official.
"As a result, the high-quality produce is not reaching the market, driving up the prices."
The soaring prices have hurt both consumers and traders. While Grade A tomatoes were sold between `69 and `80 per kg, Grade B tomatoes fetched prices ranging from `50 to `68 per kg. Traders purchased an average of 25 kg crates from farmers at prices between `1,600 and `1,900, subsequently exporting the produce to external markets.
Consumers have expressed concerns over the hike in prices, which is likely to impact kitchen budgets.
Looking at the current trends, traders say the prices will soon touch `90-100 for a kg if the arrivals in Madanapalli and other markets decline in the coming days.
The marketing authorities are exploring ways to stabilise the prices and ensure a steady supply of tomatoes. As one of Asia's largest tomato markets, the fluctuations in Madanapalle have far-reaching implications for both consumers and agricultural sector across the region.
