LPG shortage drives surge in induction stove sales across India

New Delhi: The Iran-Israel war has triggered a gas crisis worldwide. In India, LPG cylinders are becoming difficult to obtain in most cities. This has led to a surge in induction stove (induction cooktop) sales. According to the Economic Times, people have begun purchasing induction stoves rapidly on instant commerce platforms, causing many products to go out of stock. In 24 hours, demand for induction stoves increased 10-fold on instant commerce and 20-fold on e-commerce. Meanwhile, shares of some induction stove manufacturers have seen a significant surge.

How big is the demand?

• Blinkit is offering steep discounts on induction cooktops, but most products are already out of stock, leaving only a few options.
• Instamart (a Swiggy service) is also offering steep discounts. Most induction stoves have already sold out on this platform. The remaining ones are in short supply.
• Zepto is also offering steep discounts on premium kitchen appliances (including induction stoves). However, the stock of induction stoves is also low here.

Sales on Quick Commerce have increased by 10 times.

According to an Instamart official, induction cooktop sales have increased 10 times compared to normal days.

Big Basket reported that induction cooktop sales have increased 5 times since Monday. The company is preparing to increase its monthly forecast by three times.

Sales on e-commerce increased by 20 times

According to Flipkart, sales of induction cooktops increased threefold in the last four to five days.

Amazon said that in the last 24 hours, demand for induction cooktops increased by nearly 20 times compared to normal days.

Concerns about LPG supply and prices

According to experts, in metro cities where people depend on LPG cylinders, people are purchasing induction cooktops as an alternative option due to the fear of a possible gas shortage. Meanwhile, the government has imposed restrictions on commercial LPG supplies, forcing many restaurants in some areas to temporarily close. Furthermore, the minimum waiting period for booking LPG cylinders has been increased from 15 days to 25 days to prevent hoarding and black marketing.

How much did the stock rise?

Shares of some induction stove manufacturers rose on Wednesday. Hawkins Cookers Ltd.'s stock jumped more than 1.5% on Wednesday morning. It has gained more than 7 percent in the past two days. TTK Prestige Ltd. shares rose more than 13 percent in Wednesday morning trading. Bajaj Electricals Ltd. shares rose nearly 2 percent.