NewsVoir
New Delhi [India], June 21: 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 Rs. 194/kg in April to Rs. 102/kg in May, projected to dip further to Rs. 86/kg in June before peaking at Rs. 100/kg in July. Similarly, Watermelon prices saw a decline from Rs. 44/kg in March, further dropping to Rs. 28/kg in April and Rs. 24/kg in May. Based on this trend, forecasts suggest an increase to Rs. 31/kg in June and further to Rs. 44-Rs. 48/kg in July and August.
The price of pomegranates has been on a rollercoaster, initially rising to Rs. 169/kg in March, then dropping to Rs. 175/kg, only to surge again to Rs. 211/kg in May. Forecasts suggest a further increase to Rs. 236/kg in July, followed by a drop to Rs. 172/kg in August. This trend reflects wider market volatility, mirrored by fruits like Papaya, which experienced slight fluctuations from Rs. 58/kg in May, projected to rise to Rs. 68/kg in June before sharply ascending to Rs. 73/kg in July, then dropping to Rs. 53/kg in August. Large Bananas maintained a steady trend around April but saw a slight decrease to Rs. 65/kg in May, expected to drop further to Rs. 58/kg in June before gradually climbing to Rs. 69/kg in July and Rs. 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 Rs. 62/kg in May, stabilizing at Rs. 65/kg from June to August, aligning with other essential fruits. Small Apples witnessed a notable price escalation from Rs. 200/kg in March and April, with projections indicating a further increase to Rs. 239/kg by August, making them increasingly preferable among consumers. Conversely, Imported Small Green Kiwis plummeted to Rs. 81/kg in May, and remained fluctuating around Rs. 85-Rs. 90/kg during the summer months, highlighting the impact of imports on the domestic market.
In the vegetable segment, onions fluctuated to around Rs. 40/kg in March and Rs. 33/kg in May. Expectations indicate stability within the Rs. 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 Rs. 45/kg in May and dropping to Rs. 31/kg. Projections suggest a rise to Rs. 41/kg by June, with an anticipated peak of Rs. 90/kg in August. French beans followed a similar pattern, with prices at Rs. 92/kg in March, Rs. 111/kg in April, and Rs. 89/kg in May, dropping to Rs. 69/kg in June, before rising to Rs. 97/kg in July and peaking at Rs. 115/kg in August. Ginger, known for its frequent price fluctuations, is expected to reach a peak of Rs. 247/kg in August.
The price trends for lemons exhibited a gradual increase, rising to Rs. 217/kg in May, peaking at Rs. 284/kg in July, before gradually declining to Rs. 182/kg in August. Similarly, okra prices followed a similar pattern, dropping to Rs. 78/kg in May, reaching a low of Rs. 50/kg in June and August. Premium red and orange carrots experienced consistent market demand, with prices increasing from Rs. 43/kg to Rs. 45/kg between April and May, and slightly rising to Rs. 55/kg in August.
Button mushrooms saw a steady escalation in prices, climbing to Rs. 222/kg in May, and further increasing to Rs. 275/kg in August. Conversely, seedless cucumbers experienced price variations, dropping to Rs. 41/kg in May and approximating Rs. 55/kg in August.
In the vegetable market, the long bottle gourd (lauki) rose to Rs. 44/kg by May and is expected to further increase to Rs. 57/kg in August. Similarly, green capsicum declined to Rs. 66/kg in May but is forecasted to rebound to Rs. 88/kg in August. Meanwhile, potatoes exhibited moderate price stability, rising to Rs. 31/kg in May, with prices expected to remain around Rs. 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.
Otipy is India's first-of-its-kind farm-to-doorstep 12-hour delivery platform, transforming the way consumers experience farm-fresh vegetables and fruits. With a commitment of efficiency, fairness, and sustainability, Otipy's unique business model ensures that a consumer receives just harvested produce directly from the farm in 12 hours through a network of 20,000+ farmers and 1000+ dedicated reseller partners. Otipy's core philosophy is built on establishing direct relationships with farmers, cutting out unnecessary intermediaries. This not only guarantees fair and timely payments to the farmers but also enables the brand to offer competitive prices to its customers. Otipy is currently associated with 20,000+ farmers and 100 FPOs pan India.
At the heart of Otipy's success is its unique and efficient business model, driven by Artificial Intelligence and Machine Learning (AIML). Leveraging predictive algorithms based on 40+ parameters, Otipy employs AI-enabled demand planning to accurately forecast customer needs. This foresighted approach ensures that produce is harvested in alignment with expected demand, preventing over-harvesting and minimising fresh produce wastage to 3% from the industry standard of 30%.
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