Supply glut in India leads to drop in tomato and coriander prices

Due to a supply glut, the prices of tomatoes and coriander nosedived in retail and wholesale markets across Pune and other provinces in India. Tomatoes are being sold at Rs30 ($0.36) compared to Rs 70 ($0.86) last month. A bunch of coriander is sold at up to Rs 10 ($0.12) now, while it sold up to Rs40 ($0.49) a month ago. India's Agriculture Produce Market Committee officials said the intake of these vegetables into the markets increased substantially, causing the decrease in prices. Prices were higher due to shortages caused by monsoon rains, but now that crops are starting to recover, more produce is available. Prices will likely remain high for weeks to come as more produce is supplied to markets. Tomato farmers in Andhra Pradesh are in severe distress following a slump in prices after an oversupply in markets. Prices have fallen so much that farmers cannot even afford to bring their produce to the market anymore. Some are ...