Mango prices plunge 50% on supply glut

Mango prices in Mumbai have fallen by more than 50 per cent this week owing to the doubling of supply in the mandis. The prices have come down from Rs 250-300 a dozen to Rs 100-200 a dozen. The prices began declining on Tuesday as supplies registered an increase of 100 per cent.

Traders believe that the prices will decline further in the coming weeks. While last week Mumbai received supplies to the tune of 50,000 boxes (each containing five dozen) a day, this week it is getting double at 1 lakh boxes a day.

"The market is down in terms of prices. Alphonsos are now being sold at less than Rs 200 a dozen. Supplies are much higher this month. Last month, per-day supply was 30,000 boxes, which has increased to one lakh now," said Balasaheb Bhide, director-fruit market, APMC, Vashi.

As the month progresses, the prices are expected to decline further. "Next week, the prices will go down by another 20 per cent," Bhide added. This means that mangoes will be available in the range of Rs 80-160 a dozen. However, he ruled out the chances that the supply will exceed the current level of one lakh boxes a day.

According to Bhide, after May 10, the prices may go up as the supply will decline. "For the time being, crop is enough, but in May we will face shortfall and the prices may go up," he said. 

At present, 50 per cent of the supply is locally consumed in the city and the rest is used for exports as well as for the rest of the country. Mumbai gets supplies mainly from the Konkan region.

Traders say at present the Devgarh alphonsos are in high demand followed by Ratnagiri mangoes which will be available in the market by the end of April.

"Currently, the good quality Devgarh alphansos are available in the range of Rs 800-900 a box (five dozen). The prices will be lower next week," said Sumit Balkrishna Rane, a trader in APMC.