Fri Nov 22 10:32:03 UTC 2024: ## Government Backs Tomato-Based Startups to Tackle Price Volatility
**New Delhi, November 22, 2024** – The Indian government is taking innovative steps to stabilize volatile tomato prices, which fluctuate wildly due to weather patterns and pest infestations. A hackathon, the “Tomato Grand Challenge” (TGC), launched in June 2023, yielded 28 funded ideas aimed at improving the tomato supply chain and processing. These ideas, selected from over 1,300 submissions, include novel approaches such as making tomato wine.
Consumer Affairs Secretary Nidhi Khare announced that 14 patents have already been registered from these initiatives. The government will now support these startups, many of which are already established, by connecting them with investors and corporations to help them scale their operations. The initiative draws inspiration from India’s success in stabilizing milk prices, another perishable commodity.
India produces 20 million tonnes of tomatoes annually, with the southern and western regions contributing approximately 60% of the total. However, production varies across seasons, leading to significant price swings. The lean production months of July-August and October-November, compounded by monsoon challenges, exacerbate price increases.
The TGC, a collaboration between the Department of Consumer Affairs and the Ministry of Education’s Innovation Cell, aims to benefit both consumers and farmers by addressing pre- and post-harvest losses and strengthening the overall supply chain. The government’s support for these innovative solutions represents a significant step towards stabilizing tomato prices and ensuring affordable access for consumers.
First Piper 