CRISIL Intelligence: Analysis of Thali Costs in March 2025

The cost of a home-cooked vegetarian thali saw a month-on-month decrease of 2% in March 2025. The cost of a non-vegetarian thali also dropped by 5%, as per a report by CRISIL Intelligence that was released on Monday.

Reasons for the Fall 

The primary reason for this fall was the lower prices of important vegetables. The arrival of fresh crops in the market led to a substantial fall in the prices of tomatoes (8%), potatoes (7%), and onions (5%).

In the case of non-vegetarian thalis, a 7% drop in broiler chicken prices contributed to the cost reduction. This price dip was due to sufficient supply in North India and weakened demand in South India.

Comparison of Thali Cost with March 2024

Compared to March 2024, the cost of a vegetarian thali fell by 3%. This was mainly driven by a sharp 34% year-on-year drop in tomato prices. Tomato prices decreased from ₹32/kg to ₹21/kg. This was because of a 29% rise in tomato arrivals across the country. Especially in the southern states, better Rabi yield and good reservoir levels boosted production.

However, this decline was partially offset by an increase in the prices of some other items. This includes onion prices, which rose by 6% compared to last year. Moreover, potato prices increased by 2%, and vegetable oil prices surged year-on-year by 19%.

How Does CRISIL Calculate Thali Costs?

CRISIL calculates the costs of thalis based on the input prices from 4 regions of India. These are North, South, East, and West India. This method reflects the changes in household food expenses across the country.

Future Price Expectations

Based on news reports, vegetable prices are likely to increase from the start of April. While onion prices will remain low, potato prices will also rise as cold storage stocks enter the market. Furthermore, tomato prices might also witness a moderate increase due to lower Rabi arrivals.

Conclusion

The cost of both vegetarian and non-vegetarian thalis decreased in March 2025, mainly due to lower vegetable and chicken prices. While tomato prices saw a significant year-on-year drop, some other food items became more expensive. The increase in vegetable prices is expected to lead to the growth of veg thali cost in April.

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