The National Cooperative Consumers’ Federation of India Limited (NCCF) has initiated a market intervention to stabilize the soaring tomato prices in Mumbai’s retail market. As a central government agency, NCCF is procuring tomatoes from wholesale mandis and selling them at a reduced rate to prevent excessive profit margins at the retail level and protect consumer interests.
Starting today, tomatoes will be sold at Rs 60 per kilogram at the following locations: NCCF office, Chinchpokli/Lower Parel, Sion Circle, Worli Naka, and Ashokvan, Borivali East. This intervention aims to cool off rising prices and ensure price stability in the market.
“The NCCF’s intervention is designed to address price increases and promote fair trade practices, benefiting consumers and stabilizing the market,” the agency’s Mumbai-Nashik branch stated in a press note on Wednesday.
In the coming days, additional retail locations may be added for consumer convenience. Reports indicate that retail tomato prices had previously exceeded Rs 100 per kilogram but have recently softened.
Union Food and Public Distribution Minister Pralhad Joshi mentioned earlier this week that the government has a Price Stabilisation Fund (PSF) mechanism to manage rising food prices and protect consumers. “When prices of essential commodities increase, we use the PSF to procure these items directly from farmers, reducing intermediary costs and ensuring availability,” Joshi explained. He noted that in this instance, the PSF was not used as tomatoes were procured directly from mandis.
Joshi added that this initiative would help ease tomato prices, stabilize the market, and provide tomatoes at a subsidized rate to consumers.
In Delhi NCR, tomatoes are being sold at various locations including Rajiv Chowk Metro, Patel Chowk Metro, Nehru Place, Krishi Bhawan, CGO Complex, and more.
The rising food prices have continued to challenge Indian consumers, with food inflation almost doubling year-on-year in June. Official data showed that food inflation increased to 8.36% in June, compared to 4.63% in the same month of 2023. Retail inflation for all food segments, including vegetables, fruits, oils, and fats, has risen month-on-month, contributing to an overall increase in India’s retail inflation rate.
(With ANI Inputs)
