Induction Stove and Ready-to-Cook Meal Demand Surges Amid LPG Supply Concerns

Global Energy Crisis Drives Demand for Electric Cooking Appliances and Ready-to-Cook Products

The ongoing US-Israeli war on Iran, which has restricted fuel shipments, has caused a surge in demand for induction cooktops and other electric cooking appliances, as well as ready-to-cook (RTC) and ready-to-eat (RTE) foods. This is despite the government's assurance of adequate LPG supplies.

India, which relies on 90% of its LPG imports via the conflict-hit region, is facing a limited market supply. Industry executives have reported a sudden spike in demand for induction and other cooking devices, leading to a temporary scarcity in inventory. However, companies such as Croma have proactively tackled the situation by securing inventory from partners and making it available across all sales channels.

The global crisis has led to a significant spike in sales for e-commerce platforms Amazon and Flipkart, as well as quick-delivery players Blinkit, Instamart, and Zepto. However, these players have run out of stock in several cities due to the high demand.

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Ready-to-cook (RTC) and ready-to-eat (RTE) foods have seen record sales, with products such as biryani kits, rice mixes, and Thai curry pastes experiencing high demand due to their minimal cooking time requirements.

Zoff Foods, a company specializing in spices and pantry essentials, expects demand for RTC products to grow by 50-100% in the coming months as new usage habits begin to form.

In contrast, HyFun Foods, a frozen food maker, has not seen a significant rise in demand for frozen food despite the LPG shortage. However, the company expects convenience-based food options like frozen foods to gradually recover as households seek out efficient meal solutions.

The LPG shortage may subside as Iran has allowed two LPG vessels to pass through the Strait of Hormuz to reach Indian ports. The Shivalik is expected to dock at the Mundra Port later in the day, bringing approximately 46,000 metric tons of cooking fuel.

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